Brexit Party Contract

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In the interests of impartiality we have included the Brexit Party Contract in our series of manifestos for the major parties. Click here to download the Contract.

Details of policies that directly affect the Private Rental Sector are a bit thin on the ground

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Conservative Manifesto – Ban S21 and strengthen rights of possession

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The Conservative Party have released their 2019 general election manifesto. This has been very briefly summarised with the key points of interest for Landlords and the PRS industry. Download the full manifesto here

For the Private Rental Sector:

The Conservatives say they will bring a ‘Better Deal for Renters’

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Let for 2 to 3 days a time – Does it need HMO licence?

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We have an 8 bedroom (7 en-suite) property that we let via booking.com to guests. Most guests only stay for 2-3 days and no more than a week.

We have been told that the property does not qualify as an HMO as it only offers temporary occupancy to guest.

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Labour plans would challenge buy-to-let investors and second-home owners…

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General Election:

Part of Labour’s
bid to be elected on 12^th December is a raft of tax
raising measures aimed at buy-to-let landlords and second home
owners.

Jeremy Corbyn’s
Labour party manifesto launch last week outlined a number of issues
which will be of concern to landlords.

What is Labour
proposing:

• Rent controls
  would be introduced, providing a cap on rent increases during the
  course of tenancies, most likely to the level of inflation. This in
  itself may not be such a bad thing for landlords as most landlords
  rarely have their rents keep pace with inflation, giving them a
  legitimate reason to increase regularly. However, cities where
  demand for rentals is highest would be given additional powers to
  bring in even tougher rent controls.

• With more
  landlords considering switching to short-term holiday rentals
  following the removal of the mortgage interest allowance on
  long-term letting, this avenue could be closed to most landlords,
  with an extra tax on holiday homes of an average of £3,200 a year
  each. Labour’s levy on holiday homes and second homes, it is
  estimated, will raise £560m a year, based on a 200pc hike on top of
  council tax, hitting around 425,000 properties. The Liberal
  Democrats have said they would adopt a similar policy.

• Open ended, as
  opposed to fixed term tenancies, would become the norm. Along with
  the abolition of the assured shorthold tenancy (AST) and removal of
  the no-fault section 21 eviction process, this would considerably
  strengthen tenants’ security of tenure, making it difficult, if
  not impossible in some cases, for landlords to end residential
  tenancies.

• The
  Conservatives have also confirmed that the section 21 possession
  process is to be brought to an end, replaced by a beefed-up
  alternative, the section 8 court based possession process.

• Labour plan to
  bring in a universal licensing scheme for landlords, with what it
  calls “tougher sanctions” for any property professional breaking
  the rules on minimum safety standards.

• Renters unions
  would become the norm if Labour were elected, funded by government
  to protect tenants legal rights, which it says would allow tenants
  to “organise and defend their rights”.

• Labour has
  previously recommended the scrapping of council tax for tenants.
  This would be replaced by a “progressive property tax”, based
  the value of the home and paid for by the landlord owner.

• The party has
  also announced plans to allow tenants to buy their homes from
  landlords at below market rates, though this suggested appears to
  have been shelved for now – it’s not mentioned in the
  manifesto.

• On a more
  positive note for landlords with benefit tenants, Labour would end
  the freeze on Local Housing Allowance (LHA) and would realign LHA to
  the 30th percentile of local rents. They would also pay the housing
  element of Universal Credit directly to landlords, which landlords
  would welcome, though it has said Universal Credit system could be
  scrapped.

• Landlords would
  be prevented from excluding any tenant applicant who is receipt of
  housing benefits.

• Right to Rent
  checks would be scrapped if Labour are elected.

• Labour have
  pledged to equalise capital gains with income tax income, which
  would mean a considerable hike in capital gains tax for most people.

• Income tax
  would increase for anyone declaring an income above £80,000 per
  year.

• Labour plan to
  end the Right to Buy council houses for residents, and to build
  150,000 council and social homes annually, with 100,000 of these
  built by councils for social rent.

• Following on
  from the Grenfell inquiry, a £1 billion Fire Safety Fund will be
  launched to fit sprinklers and other fire safety measures in all
  high-rise council and housing association tower blocks.

• All high rise
  residential tower blocks will have the dangerous Grenfell-style
  cladding removed and replaced with safe materials.

• Mandatory
  building standards and guidance are to be introduced, inspected and
  enforced by fully trained Fire and Rescue Service fire safety
  officers.

• Local
  authorities will be given new powers to control Airbnb style
  short-term lets.

• Leasehold
  reforms will be introduced, ending the sale of new leasehold
  properties, abolishing unfair fees and conditions in existing
  leaseholds, and leaseholders will be given the right to buy their
  freehold “at a price they can afford.”

• Most homes in
  the UK would be upgraded to the highest energy efficiency standards,
  though no indication as yet by Labour as to how that will be done.

• All new homes
  will need to reach zero-carbon emissions standards, achieved by
  using new new technology such as heat pumps, solar hot water and
  hydrogen gas, with new investments to be made in district heat
  networks using waste heat.

The Labour Party Manifesto

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