What Does A Labour Government Mean For Wellingborough Landlords?

11 days ago
What Does A Labour Government Mean For Wellingborough Landlords?

With Labour now in government, what will the next 100 days hold for landlords? Here, we explore what to anticipate from Labour and address the main concerns for property investors.

Keir Starmer’s vision for change is here. Following Labour’s landslide victory, many landlords are anxiously waiting to see how the new government will shape the private rental sector.

From attending industry events, it’s clear there is growing concern over Labour’s policies and attitudes towards landlords. To be frank, a party’s actions often don’t fully reflect the pledges made in manifestos. Additionally, 14 years of Conservative governance have resulted in tougher legislation and negative attitudes towards landlords overall.

Now, it’s a waiting game to see if this new government will continue to use landlords as scapegoats for poor housing policies or work with the private rental sector to implement realistic and positive changes to better support both landlords and tenants.

Labour’s key manifesto pledges for landlords include:

– Abolish Section 21 immediately
– Cap upfront payments from tenants securing properties and end ‘bidding wars’
– Drive up standards in the rental market (Awaab’s Law)
– The Warm Homes Plan – Ensure all properties meet energy-efficient standards by 2030
– Build 1.5 million homes over the next parliament

The next 100 days

The King’s Speech will outline Labour’s priorities for change, providing a clearer idea of what to expect for housing and the broader private rental sector. Realistically, border control and wider immigration issues will be Starmer’s initial focus. However, planning reform and house building will also be high on the agenda.

Naturally, the primary concern for most landlords is Labour’s stance on Section 21. While the Party has consistently promised to abolish these ‘no fault’ evictions immediately, we saw the Conservatives acknowledge the need for court reforms before this was feasible.

Angela Rayner, the deputy leader of the Labour Party, has emphasised that this issue is high on her priority list. However, it’s likely that broader issues, such as NHS funding, will be first on their agenda. Other pledges, such as imposing VAT on private school fees, have also caused contention among the public in the lead-up to today’s election results. For now, we must wait and see how the Party addresses these debates moving forward.

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