Even before he arrived on the scene, politicans in other parties have been busy out-Corbyning the new Labour leader.
Heightened political divisions and changes in government attitudes now endanger the private rented sector as much as the infamous Rents Acts ever did, in a backward spiral to the 1970s.
In this backward flip, we now have the prospect of Right to Rent, or, as I prefer to call it, the call-up of landlords and agents to act as a new (and unpaid) division of the Border Agency.
Then there is the requirement to hand out a Government booklet, How to Rent, to all tenants from October 1 onwards.
This essentially requires landlords and agents to freely volunteer for the Social Services as counsellors for prospective tenants.
As if that were not enough, we have local council licensing schemes rolling tsunami-like through the country, with the prospect of blacklists to come.
I see this as part of a new wave of persecution of landlords and letting agents.
Nor does it even begin to end there.
The Chancellor is bringing in a new tax regime for landlords, a kind of Mansion Tax for the rental market, aimed at securing the Corbyn supporter’s vote.
That alone is making landlords wonder whether letting is worth the candle.
On top of that, the Bank of England may well be given new powers to limit the size and scope of buy-to-let mortgages, the prime source of investment finance for the private rented sector.
In other words, the ability to fund the private rented sector will be destroyed by political games to out-manoeuvre the left, or as is now confirmed, to out-Corbyn Corbyn.
Disappointingly, in the face of this storm of 70s-style vote catching, little is heard in the market place from anyone on behalf of the private rented sector or the mortgage lenders who finance it.
Doubtless, industry organisations will turn up at the party conferences – but will that be to ensure their own views are heard, or to listen to the mantras being chanted by the party faithful 1970s-style, either by Corbyn or at Corbyn?
It is almost a given that nothing will come out of the conference season to improve the lot of landlords or tenants, letting agents or mortgage brokers.
Yet there are concerns that should be addressed widely and in public, not tinkered with for political point scoring.
These are the concerns of the savers and pensioners who are the major source of investment in the private rental market and they are the drivers of the only coherent part of the housing sector.
They never hear of anything being done on their behalf.
Why should an investor in the business of renting be treated any differently for tax purposes than a widget maker supplying the auto industry?
Why should the rental market be played with in a way that the home ownership market is not?
Rents may be high and demand may be high, but will landlords continue to put up with the endless regulatory obstacles put in their way while onerous new tax regimes cease to make the private rented sector a competitive investment – even if the finance is available?
And above all, for how much longer will landlords put up with being treated as social pariahs?
Unless someone speaks up very loudly for the sector, drowning out the noise of tit-for-tat politics, objecting strongly to the obstacles of needless regulation, promoting the need for the private sector landlord, there could be a Great Sell Out from the private rented sector.
This Great Sell Out would almost certainly precipitate the next housing crash and then, of course, the next recession.
Is this really what politicians and voters want?
* Malcolm Harrison is former spokesperson for ARLA and a regular contributor to EYE
Good Landlords are not speaking out as a collective. Maybe this is were the problem lies?
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They are speaking out but all politicians are not listening or not hearing. You have rogue councils like Croydon pushing blanket licensing when they were aware of imminent changes to prevent it. It is TAXATION TAXATION TAXATION
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ABSOLUTELY AND TOTALLY SPOT ON. Exactly what many have been saying for a long time. Perhaps compulsory CPD can be introduced for politicians in housing history and economics or an operation to remove that part of the brain where political ideology functions.
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The essential problem is that Cameron, apart from being a proven liar, has no principles.
The author is absolutely right that landlords are indeed the new Bete Noire and it has become fashionable to attack them – not only from Corbyn and his Luvvies and Losers but from the so-called Conservative Party. Perhaps the government should consider that many older landlords are in fact RELUCTANT landlords. They remain landlords into older age often because of the derisory level of interest rates and many would prefer an easier life just receiving 4 – 5% on their savings rather than dealing with the stresses of being a landlord.
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tit is a *** word here – didnt know that. Anyway whatever govt will introduce more taxes on PRS as its an easy target. PRS does not have a union, does not have a body representing it. The general public just see well off people having a 2nd home and agents in smart suits ‘appearing ‘ to do little for their money. The general public do not understand the legislation and work that agents have to do – heck even first time landlords have no idea, or even more worring existing landlords using an agent for the first time.
So divide and conqure is what the govt will do and tax us and landlords becasue they can. The Govt do understand the need to keep LL in the PRS but will chisel away at the edges with the HOPE of not cracking and destroying the PRS. If interest rates rent up then it may well be an easier and safer bet to stick the money in a bank for the LL. I remember when 10% was a normal interest rate for money in the bank.
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Property is not the only investment vehicle out there and if the government continues to make it more difficult for investors to survive in an already tenuous market I am sure we will see a mass exodus with Landlords and investors switching to a more productive vehicle.
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Be careful for what you wish for!
Housing is a mess.
Councils can’t house people, they haven’t got the properties, the resources or the first clue on how to get out of the mess they are in.
You now have councils offering to refund landlords their legal costs, after they have had to evict a tenant (where the council advised them to stay put!) because they can’t house them and need them to stay where they are!
The government needs the Privated Rented Sector, but are doing all they can to alienate landlords, which will lead to fewer homes being offered for rent and further exasperating the housing problem.
The only good news is the majority of a minority have just elected an unelectable leader, so we won’t have to deal with their loony ideas!
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New S21 rules are designed to catch out landlords so smart councils will make a big big play on finding defects in S21 notices to ensure tenants can’t easily be evicted. Government are crafty in the way it is setting traps to prevent landlord gaining possession. Then councils wonder why they are not liked by landlords. I actively discourage clients from having anything to do with councils having seen their tactics and to always suggest use the High Court for evictions where they can. Its called playing the game.
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What nice sensible policy from the party that thought it was a good idea to have Gordon Brown, followed by Ed Miliband followed by Jeremy Corbyn as three completely un-electable leaders. I wonder what their next bright idea will be??
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Maybe greater rules and regs on landlords would be a good thing? Think about it. A landlord can avoid agents to get their rentals on RM and Z. A service agents use to provide to most landlords.
With maybe 1.5m private landlords. Wouldn’t landlords coming under greater restraints that agents have to deliver through daily, in fact drive more landlords back to using agents rather than going it alone and face the fines when things go wrong.
My gut feel is that compliance for landlords could be a good thing for agents.
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That may well happen but if landlords are losing their margins with greedy councils, greedy government and every increasing controls they will eventually leave the market which would not be so good for agents either. Remember it is the landlords who are being hit with ever increase costs. Shelter want all agents to be a charity (but not earning the large salary that Shelters CEO earns!). Last straw and camel springs to mind.
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