Political Party Manifesto Plans For Landlords Condemned
Both Labour and Conservative Party manifesto plans for landlords in the UK have been condemned by one organisation.
The National Landlords' Association (NLA) says that the manifesto from the Conservatives will 'do nothing to support or encourage landlords' to remain investing in the private rental sector.
However, the Conservatives say that their manifesto will 'empower tenants' and offer 'greater peace of mind'.
The NLA's chief executive, Richard Lambert, said: "The claim by the Conservatives that their manifesto will help create a fairer rental market, but fairer for whom?
"We are disappointed the Conservatives are pledging to continue with their plans for the abolition of Section 21 and despite robust lobbying on behalf of the UK's 2 million landlords, the Conservatives appear to be hellbent on punishing law-abiding and hard-working landlords."
Scheme for tenants to transfer their deposits
Mr Lambert also says he is sceptical about the plan for bringing in a scheme for tenants to transfer their deposits easily whenever they move home.
He said: "We will reserve judgement on the lifetime deposit scheme as the Conservatives are yet to confirm how this will work in practice.
"The NLA cannot get behind the manifesto that cripples badly a landlord's ability to run a functioning letting business."
However, the National Landlords' Association has also criticised the Labour Party's manifesto for being 'too extreme' and 'unrealistic'.
Rent controls to restrict rent rises
Among the Labour plans are to scrap Section 21, open-ended tenancies and rent controls to restrict rent rises.
Again, the NLA says that it is not clear as to how Labour will make these policies work in practice.
Mr Lambert said: "How will Labour ensure those landlords who are compliant already do not take the full brunt of the changes?
"What Labour proposes currently will force landlords to be more selective about the tenants they take on and drive many from the market.
Punishing law-abiding landlords'
"We cannot stress enough that by punishing law-abiding landlords who work and live in the private rental sector will be something Labour will come to regret."
Labour's plan to bring in rent controls have also been criticised by David Alexander of Apropos.
He explained: "Rent controls are a crude means for limiting rent increases for current tenants but these often result in a new tenant having to pay higher rents as investors and landlords seek to recover missing revenue."
He added that rent controls do not take into account fluctuating market pressures with demand rising and falling and having a centralised policy to fix rent rises 'will result in a less fair market' for tenants.