Industry news
News relating to the private rented sector from both England and Wales, affecting landlords.
Win for NRLA as Labour u-turns on rent controls
The Labour Party has abandoned plans to introduce rent controls should it come to power, with Shadow Housing Secretary Lisa Nandy admitting proposals could in fact increase homelessness.
Blog: The latest on the Renting Homes (Wales) Act
Landlords can use new templates to write to MPs on Renters Reform
New letter templates have been developed for NRLA members who want to write to their MP to highlight issues with the proposed Renters (Reform) Bill. The templates have been adapted to highlight the key measures needed to ensure landlords can continue to operate once Bill is implemented, with landlords able to edit the documents to explain how the proposals will impact them and their businesses.
Chancellor needs to act as interest rate hike hits renters and landlords
In light of the news that the Bank of England has once again raised interest rates, the NRLA has provided its view on how the Government must act urgently to support the private rented sector.
Wales rent control consultation: Register for a working group event this July
Landlords in Wales are being urged to share their views on rent controls by registering for a working group event, organised by the Welsh Government. Six working groups have been set up as part of the consultation process for the Green Paper on Fair Rents and a Right to Adequate Housing, with private landlords and tenants invited to attend.
Wales: Housing Minister backs NRLA tax calls
The Welsh Minister for Climate Change, Julie James MS, has supported the need to review the way the private rented sector is taxed. Speaking at an event to launch the National Residential Landlords Association’s (NRLA) State of the Welsh Private Rented Sector report, the Minister said she would welcome ideas about how to ensure the tax system supports the provision of long-term homes to rent.
Landlords’ profits hit 16-year low
Landlords’ profits have hit the lowest rate since 2007 according to new research, with fears many could quit the sector for good. Average net profits for investors in the PRS dropped below 4% in the first quarter of this year, according to a report by property agent Savills, and are now at their lowest since 2007.
Renters (Reform) Bill: Watch our webinars on demand
The Renters (Reform) Bill was published a month ago, setting out the Government's plans to fundamentally reform the private rented sector (PRS) in England. Following the publication of the Bill, the NRLA continues to campaign in these early stages of the Bill’s progression, on behalf of members.
High-risk evictions paused over safety concerns
The NRLA has received correspondence from HM Courts and Tribunals Service informing us that certain types of high-risk bailiff evictions are to be temporarily paused in some regions.
Wales update: what landlords need to know this week
Earlier this week, the Welsh Government opened a consultation on introducing rent controls in Wales. NRLA Head of Policy, James Wood, discusses this and the latest requirements around converted contracts here.
