Fears over Labour election win’s impact on private rented sector
Landlords and letting agents are fearful of onerous new regulations in the aftermath of a Labour victory.
Property professionals are worried that the incoming Labour government could cause damaging changes to the Private Rented Sector (PRS).
A nationwide survey conducted by Leaders Romans Group has captured growing anxieties about the potential impact of any new legislation.
The results reveal significant concerns over proposed rent controls, property taxes and regulatory changes, urging political leaders to consider the far-reaching implications of their policies.
The survey, which was conducted just before the general election, gathered responses from more than 1,200 landlords and tenants across England and Wales.
Reduction in rental properties
One landlord commented, “A balanced and fair Renters (Reform) Bill is essential for the stability of the rental market. Overly stringent regulations could discourage investment and reduce the availability of rental properties.”
Another landlord expressed concern over proposed rent controls, stating, “Rent controls might seem beneficial in the short term, but they could lead to a reduction in the quality and quantity of available rental properties. This could hurt both landlords and tenants in the long run.”
Overly stringent regulations could discourage investment and reduce the availability of rental properties.”
The survey results showed that 60% of landlords are particularly worried about potential increases in property taxes, which they believe could lead to higher rental prices.
Additionally, 45% of respondents expressed concerns about the introduction of new regulatory measures that could complicate the rental process.
