Jul

PRS reform legislation to cost landlords just £10 a year, claim campaigners

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Pro-tenant campaigners have claimed that the Government’s looming overhaul of the private rented sector will cost landlords a ‘meagre’ £10 each per annum.

The Renters’ Reform Coalition, a group that lists 20 organisations including several tenant unions, Shelter, Age UK, the Joseph Rowntree Foundation, Crisis and the Nationwide Foundation, has not revealed why it believes the huge changes will cost such a small amount.

Its statement published last night claims landlords can easily afford the money given the ‘median total wealth of buy-to-let landlords is £942,00’.

The coalition says it has made the claim in a bid to persuade the Government to accelerate its Renters (Reform) Bill which, although it was introduced nearly two months ago, has yet to receive a second reading.

Also, the Renters’ Reform Coalition accuses landlords – namely the NRLA – of conducting a “years-long lobbying campaign…to water down and delay the proposals, by claiming the additional regulation will drive landlords to sell their properties, and to push for favourable tax changes to compensate for any increased regulation”.

Negligible

Tom Darling, Campaign Manager of the Renters’ Reform Coalition, says: “The Government’s own Impact Assessment shows that the costs to landlords of the basic protections for tenants in the Renters (Reform) Bill are negligible, especially compared to the significant wealth of a typical buy-to-let landlord.”

“There is a crisis facing renters and the lack of progress on this important legislation is very concerning.”

“The Impact Assessment ought to give the Government confidence to ignore the hot air from landlord groups about the burdens of regulation, bring forward the Bill, and heed the Renters’ Reform Coalition’s demands to improve the protections for tenants in the legislation, such as through longer notice periods and extended protection from eviction.”

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