How will the parties will effect the Private Rented Sector?
A recent NLA General Election Hustings, held at Portcullis House, allowed the main political parties to set out their intended policies on Private Sector Renting. Representatives from Lib Dem, Conservative, Labour and the Green Party laid out their policies with the UK Independence Party declining an invitation.
We at Arthur, in our strive to make life more efficient, have reduced this into key party policies to highlight how the private rented sector might be affected after May the 7th.
Liberal Democrats – Stephen Williams MP
- Opposed to blanket regulations but would introduce specific measures.
- Affordability remains an issue and they would like to see more purpose built private rented sector housing enter the market.
- Continue current work on regulating letting agents with specific regard to the offer of redress.
Conservative – Bill Neill MP
- Support sensible regulation that would insure a fair balance of obligation between landlord and tenant without driving away investment.
- Recognising private rented sector offers flexibility for those renting by choice and encouraging institutional investment in this sector.
- Building 200,000 new houses for first time buyers.
Labour – Emma Reynolds MP
- Views under supply as a main issue and would focus on increasing house building.
- 3-year-tenancies as the standard lease to chase out rogue landlords.
- A limit on rent increase based on a chosen index, which they would work with the NLA to choose.
Green Party – Tom Chance PPC
- A national licensing scheme organised by local authorities to prohibit the poor standards of landlords.
- Supports longer term tenancies and stabilisation of private rented sector.
- Believes existing licensing and accreditation schemes are not effective and need replacing.
This comes alongside the NLA launch of “Quid Pro Quo”, a system for landlords to lobby their local MPs and bring key issues to debate. Regardless of the party or parties are voted into power on May the 7th landlords will need to be ready for the future.