The NAEA and ARLA have produced an election manifesto which manages not to mention Brexit.
Instead, it calls for a number of urgent reforms in the housing sector, including the regulation of agents and the introduction of a log book for every property on the market.
The proposals include:
- Regulating property agents – the two Propertymark bodies call for the recommendations of RoPA – the Regulation of Property Agents working group – to be taken forward by the next government
- Abolition of the 3% Stamp Duty surcharge on the purchases of additional properties, including buy-to-let homes
- Introduction of property ‘MOTs’ on rental properties, to replace discretionary licensing schemes
- Exemption from Stamp Duty for down-sizers buying a smaller home
- Reform of the court system, so that it is quicker and easier for landlords to regain possession of their properties
- Introduction of a digital log book for every property bought and sold, with the aim of cutting fall-throughs and speeding up transactions
- Remedies for owners of leasehold properties
- Reform of Universal Credit
- A database of rogue landlords and letting agents to be opened up to the public; and for the database to be merged with that of rogue sales agents, to prevent individuals from moving into sales from lettings
- Review of landlord taxes
- New regulations for short-terms lets such as Airbnb
- Help for the private rented sector with energy efficiency and climate change
- Rental properties to be given insurance protection under the Flood Re scheme
They missed one – ‘A database of rogue tenants to be opened to the public’
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Regulation for Agents is long overdue, let’s hope the next government continue this direction of travel as quickly as possible.
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Over-regulation is the enemy of growth and prosperity…(unless you’re ARLA, then the revenue generating potential is limitless!)
Another step in the road to ARLA repositioning itself as a/the national, Government backed, regulator…and essentially giving the middle-finger to its members…
Lets have a look at some of the more ‘interesting’ manifesto elements…
–Regulating property agents – the two Propertymark bodies call for the recommendations of RoPA – the Regulation of Property Agents working group – to be taken forward by the next government- Call me a cynic, but ARLA/Propertymark fancies itself a little too much as the ‘official’ Govt. backed PRS regulatory body…(ARLA wistfully looks up to the sky, rubs hands together and thinks to itself ”cha-ching…”)
–Introduction of property ‘MOTs’ on rental properties, to replace discretionary licensing schemes… Could it be that ARLA have lined up some ”partners” who’ll be more than happy to provide such services…at a cost of course…
–Exemption from Stamp Duty for down-sizers buying a smaller home. Noting in the summary, it isn’t specified whether stamp duty is to be abolished in respect of downsizing, or paid by sellers(?).
–Reform of the court system, so that it is quicker and easier for landlords to regain possession of their properties. Well, abolition of the Sec.21 will help! No wait, it won’t…what are you doing about that ARLA (using the same devastatingly effective strategy used when challenging the abolition of Tenant fees? That went well*…). *It didn’t go well at all…
–Reform of Universal Credit. Try ”Abolition of Universal credit, in favour of returning to the old system” (which wasn’t great, but it was a darn sight better than UC).
–A database of rogue landlords and letting agents to be opened up to the public; and for the database to be merged with that of rogue sales agents, to prevent individuals from moving into sales from lettings. This seems to be a case pooping on your own doorstep (or your members’…) As Agents and Landlords, the public is seemingly encouraged to believe that we’re all ”Rogue”?…So what ARLA means is, In the meantime, as our learned friend above rightly points out…where is the ”Rogue” Tenant Database??
–Review of landlord taxes…Oh dear, perhaps it would have sensible to specify ”downward review…” as I’m sure Landlord’s would be ecstatic with further increases…
–New regulations for short-terms lets such as Airbnb…With the regulating body being….”drumroll please…” ARLA!! (ARLA continues to rub hands together at the prospect of all of this lovely over-regulation, and the potential goldmine from which they may prosper).
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Personally feel this is a well-rounded list of proposals that would see the ongoing professionalisation of our industry and raise the way we are perceived and interacted with by the general public. There should be some sort of register for rogue tenants although tricky to police and (like financial/criminal records) should be wiped after 3-5 years. Also think the Property MOT should be a digital construct which is constantly giving live data on the compliance of property not an ‘annual check’.
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Shame no one talks to the people who actually make the investments and put their money where their mouths are. Just psuedo organisations who deem they know what is best for everyone else. Government, Councils trade organisations all plotting a route that suites themselves.
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Well done Property Mark – Lets hope the government listen
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