With the general election on 12 December, each of the main political parties has outlined its plans for the country, including for the property market.
Here, we highlight some of the key housing policies that they’ve announced, particularly those affecting landlords.
They range from introducing a ‘lifetime’ deposit that moves with a tenant, to making open-ended tenancies available.
The Conservatives have promised to continue with their target to build 300,000 homes a year by the mid-2020s.
The party has also promised to ‘review new ways to support home ownership’ following Help to Buy’s completion in 2023.
Perhaps more directly applicable to landlords is the abolition of ‘no fault’ evictions for tenants, and only requiring one ‘lifetime’ deposit that moves with a tenant.
There’s a mention of banning the sale of new leasehold homes and restricting ground rents to a peppercorn rent (a very low ‘token’ rent).
This could be welcome news for any landlords owning a leasehold property – although the detail has yet to be fully outlined.
The central housing policy announced by Labour has been a promise to build an extra 150,000 council and social homes a year, with 100,000 of these built by councils for social rent.
The party has announced a range of measures that would see a significant expansion of tenants’ rights, including open-ended tenancies, government-funded renters’ unions, and the abolition of current rules that require landlords to check people’s immigration status.
It also wants to introduce rent controls and give councils powers and funding to buy back homes from private landlords, although details haven’t been given about how this would work.
The Liberal Democrats would like to see 300,000 homes built every year by 2024, 100,000 of which would be social homes.
It would also allow local authorities to increase council tax up to 500 per cent where properties are being bought as second homes.
The party plans on introducing a new ‘rent to own’ model for social housing where rent payments give tenants an increasing stake in the property, owning it outright after 30 years.
Other housing policies directly affecting landlords include mandatory landlord licensing and increasing minimum efficiency standards for privately rented properties.
The Green Party is focused on making sure that every home in the country is insulated properly.
It would also like to see 100,000 new council homes a year.
The SNP has announced restoring housing support for 18 to 21 year olds across Britain. It also intends on encouraging councils and individuals in rural areas to bring empty homes into use, making them available to rent or buy.
The Brexit Party has announced a range of housing policies, including simplifying planning consents for brownfield sites.
However, it has not specifically mentioned landlords or the rental sector.
What do you think 2020 has in store for landlords? Let us know in the comments below.
17 December 2019 • 2-minute read
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