The NRLA is fighting hard for East Midlands landlords as it takes the battle to Westminster. Ben Beadle told Property118.com that he had spoken personally with Ms Truss at a leadership hustings and received firm assurances on the issue of better treatment for landlords.
Ben stated, “She told me directly that she felt that landlords had been harshly treated these past years under a Conservative government and she wanted to create an environment that rather than landlords selling their properties and leaving the sector, that actually they remain and wish to invest,” said Mr Beadle.
“That’s a marked change from what we have seen for these past years, and we shall be pushing hard to make sure that translates into more appropriate policies. The last administration has been hell bent on shrinking the sector, bashing landlords and looking at landlords as a cash cows. Actually, we are the only people that are providing homes to a significant level.”
“I’m looking at the new administration to review section 24 mortgage interest changes; I would like them to do something about stamp duty to make it more attractive for people to invest; I’d like them to build social housing; remove the freeze on the local housing allowance so people can better afford rents in their area, and I’d like them to look again at the way Department for Work & Pensions treats landlords when it comes to Universal Credit, which is frankly a disgrace.”
Mr Beadle’s comments came just days after the release of the government’s new Decent Homes Standard discussion document, drawn up under the previous administration. It seeks to imposes a minimum standard on homes in the private rented sector (PRS), previously reserved for public sector housing. While most of its provisions are uncontentious, many landlords are concerned about the reference to properties having a ‘reasonable degree of thermal comfort’, which they fear could be tied into the projected rise in minimum EPC ratings from E to C. The new rules apply to new tenancies from 2025 and all existing tenancies from 2028. It is already illegal to let a property with an “F” or “G“ rating.
This further benefits the buy-to-rent sector as these properties are predominantly new build and building regulations will automatically gain a high EPC rating. As we wait for this sector to grow we shall see fewer rental properties meanwhile, pushing up rents and creating a great investment return for the large corporates in this sector.
If you are a landlord in the East Midlands area why not contact us to discuss your strategy and possible options moving forward.
