Labour has set out yet more details for its reform of the private rented sector should it come to power in next year's General Election, with several key elements.
These include an all-embracing demand for longer tenancies, greater security, more predictable rents, better regulation and proper enforcement of safety and decency standards which would be backed up by compulsory licensing of all lettings agents supported by tough regulation.
All landlords would have to be registered in an unspecified self-financing scheme, from which they would be excluded if - to use the party's wording - they were found guilty of illegal evictions, harassment, the theft of deposits or serious disrepair.
Labour also wants a Decent Homes Standard to be introduced for private renting.
More encouragingly for landlords, the party also wants a review of tax treatment to encourage investment and the introduction of (again unspecified) equity-share repair loans to achieve the new decency standard.
Yet another controversial proposal is that buy to let mortgages for existing homes should be discouraged with priority given to new-builds only. Commonhold - the form of tenure introduced by the last Labour government without widespread success - should become the norm, replacing leasehold, it says.
Finally, it wants a National Tenant Voice to be created - without saying what this would be or how it would operate.
Comments
Ah so its back to the old system of Rent Act type tenancies. Landlords wont be able to increase rents, end tenancies etc etc and in addition there will be more bureaucracy. Ive been in the industry nearly 30 years and things were going quite well until too many do-gooders started having their say. The deposit scheme has added more and more work, costs etc to landlords and agents, let alone the unfair penalties should a landlord or agent dare to fall foul of the rules and now all these new proposals from Labour will only do more to harm the industry. Ive been (up until now) a lifelong Labour supporter, but my advise for next year.....vote Conservative!!