The Residential Landlords Association is concerned about Labour’s plans for the Private Rented Sector (PRS) should the opposition be elected in May 2015.
Labour set-out their policy for housing at their recent party conference in Manchester to which the RLA commented:
Nearly 60 percent of housing stock created since 1986 has been in the private rented sector.
Analysis by the Residential Landlords Association (RLA) of figures produced by the Department for Communities and Local Government has revealed that of the over five million new dwellings created between 1986 and 2012, 57 per cent of these have been private homes to rent.
Despite calls by the Labour Party at their conference for a boost to the supply of homes, their policies announced this week will critically undermine the housing tenure that has made up the majority of new dwellings created over recent years, warns the RLA.
The RLA is warning that the extra regulations for the sector announced by Labour at this week’s conference will significantly damage the only sector that is boosting the supply of places to live.
This week, Shadow Ministers announced plans for:
A national register of landlords. This is despite the fact that the last Labour Government described a full register of this kind as “onerous, difficult to enforce and costly”.
Rent controls. This is despite the last Labour government having launched a consultation which made clear that the last time rent controls were introduced they seriously undermined investment in the sector.
Banning so called revenge evictions with costly new legislation. This is despite the fact that the Competition and Markets Authority has made clear that this is already illegal.
Alan Ward, Chairman of the Residential Landlords Association has today said:
“The figures show that private landlords are the largest single investor group in the UK housing market. Without the increase in rented dwellings we have seen, the current housing crisis would be more like an Armageddon.
“Sadly Labour just does not get it on rented housing. Rather than supporting the sector to meet the ever growing demands being placed on it, Shadow Ministers are looking to make cheap political points by reaching for populist regulations without thinking through their consequences.”