Government must end landlord limbo

With less than a week to go until the country goes to the polls, NRLA chief executive Ben Beadle shares his thoughts on what the new government must do to retain the confidence of private landlords – and the need for a definitive decision on rental reform.

A thriving private rented sector is essential, not just to the millions of people that look to it for a home, but for the economic stability of the country as a whole.  

Regardless of who comes out on top on 4 July, we need the new government to remember this when it comes to developing housing policy and plans to reform the sector. 

We at the NRLA know that changes are inevitable and have shared three key asks of the new government – overarching calls to ensure any new legislation is fair to landlords and tenants, and is phased in over a reasonable time period. 

We are asking for:  

  1. Rental reform that works for all    

  1. A long-term stable housing strategy and  

  1. The provision of the homes that people need, where they need them   

The gap between supply and demand is only expected to grow in coming years and it is vital that tenants have access to safe, warm and affordable homes in the places they want to live. 

This means increasing the number of properties of all tenures – including the PRS. 

Resurrection of renters reform? 

A lot of work went into the Conservatives’ Renters (Reform) Bill, which fell at the last hurdle when the election was called.  

While not perfect, the Bill, which had been significantly reworked following NRLA lobbying, had the backing of both the Conservatives and the Labour group with Shadow Housing Minister Matthew Pennycook saying Labour would have ‘happily’ passed it.  

Ambitious house-building pledges are one thing, but what is needed is a clear roadmap when it comes to the provision of homes, and one with achievable, measurable outcomes. 

That is why we are asking for the development of a 10-year housing strategy to support the creation of homes of all tenures to cope with increasing demand.  

We are not afraid of reform that will encourage high standards – but we would stress there is no need for additional legislation or red tape to achieve this, simply a move to more effective enforcement to identify the rogues and remove them from the sector. 

A properly funded court service would, of course, support this. 

Creating homes where people want to live 

Whether it is young people flying the nest, couples setting up home together for the first time or families moving to the UK, the private sector is often the first port of call for ‘new households’, and it is vital that there are homes for them to move into.  

The sector is also vital when it comes to labour mobility.   

With a 10% increase in population over the next decade, it is clear demand for rental homes is only going to go up – particularly in towns and cities with robust job markets.  

This is why we are calling for strong and positive leadership from the next government to stimulate growth by removing stamp duty on additional homes and reintroducing mortgage interest relief.  

This bold move would boost confidence in the sector and in turn the economy, while supporting the provision of essential homes to those that need them. 

With increasing numbers of landlords renting to people in receipt of benefits, we are also calling on the incoming government to offer them and their tenants some security by ensuring the Local Housing Allowance (LHA) covers 50% of rents in given area for the duration of the next parliament.  You can read about this call in more detail elsewhere in the bulletin by clicking here [link to LHA story when up]. 

Devil is in the detail 

We have all read the manifestos, but the devil is in the detail and, post-election we will be working closely with the new government to bring about considered, workable solutions to support landlords, tenants and the economy.  

“The reality is that we are in the midst of a supply and demand crisis, which is only set to get worse going forwards. We need to future-proof the PRS now to ensure we continue to provide vital, quality homes to let for those that need them.” 

  • For all the latest on the party pledges affecting the PRS visit our General Election Hub at: nrla.org.uk/election