After last night’s election results, it’s clear that the Conservatives will form the next government.
Simply Business has worked with an industry expert, Mark Smulian, to interpret what the 2015 election manifestos mean for landlords and it seems that under Conservative power, not much will change for landlords, which will be a positive thing. However it’s not such a bright picture for tenants, as under other parties they would have enjoyed rent caps, a ban on letting fees and having the bedroom tax abolished.
Speaking about the outcome, Jasper Martens, Head of Marketing and Communications at Simply Business said:
“There has not been an election like this since Tony Blair’s landslide. This will prove to be a crucial, transformative event for the UK, and also for pollsters, who were taken completely by surprise.
But the outlook for landlords is unclear. There was surprisingly little in the Conservative manifesto about landlord or tenant issues, apart from the controversial pledge to require landlords to check tenants’ immigration status. This will prove a significant extra burden, and the penalties for non-compliance are severe.
But landlords may be heartened on other fronts. A Conservative majority means that national landlord registration is unlikely to happen, while Labour noises about rent rise caps will prove fruitless. A Tory government might not have promised much to landlords, but it may prove to be more sympathetic to the private rented sector than its alternative.”
— LandlordZONE (@LandlordZONE) May 8, 2015