Battle for BTL Votes Hots Up Between Politicians

Politicians plan to make buy-to-let a battleground for winning voters in the next general election.

Millions of votes are at stake as Britain has more than four million households renting privately - homes owned by more than two million landlords.

Capturing the hearts and minds of landlords and renters on election day could give either side a fillip on voting day.

The Tories, headed by Levelling-Up Secretary Michael Gove, are already in the throes of a significant revamp of the private rented homes market.

In June 2022, Gove published a policy paper outlining his vision of a fairer rental market, but landlords are still awaiting the long-promised Renters Reform Bill that will make his pledges law.

Four-year wait for rent reform

The proposals include scrapping Section 21 no-fault evictions, setting up a national database of landlords and ensuring rented homes meet basic living standards.

The reforms are heralded as the biggest shake-up in the private rented sector for over three decades. Gove had promised the new bill would come this year - almost four years after the policy was first revealed by former Prime Minister Theresa May before the Covid pandemic struck.

“It is vitally important that we stand up for tenants,” said Gove. “Everyone has a right to a home fit for human habitation and in doing so we will bring forward legislation that we give them better protection.”

“The legislation will also help those landlords who are dealing with the tiny minority of tenants who are either anti-social or deliberately attempting not to pay their rent, so that they can also be dealt with as well.”

In a separate initiative, Gove has promised to scrap leasehold home ownership by the end of the year.

“The fundamental thing is that leasehold is just an unfair form of property ownership. In crude terms if you buy a flat, that should be yours. You shouldn’t be on the hook for charges which managing agents and other people can land you with,” he said.

He argues the contracts are unfair and outdated.

Labour promises tenant's charter

Meanwhile, shadow housing secretary Lisa Nandy has announced Labour will launch another review of the private rental sector if her party wins the next election.

She promised a tenant's charter and tougher decent homes standard to an audience in London.

Nandy promises the charter within 100 days of a Labour victory, which is expected to include an end to automatic evictions for rent arrears and no-fault evictions, the right for renters to have pets, permission to make reasonable alterations to a property and to introduce a four-month notice period for landlords.

In Wales, landlords have felt the full force of a private rental sector review that includes the scrapping of section 21, more extended notice periods and rewritten tenancy contracts.

Cash sop to Welsh homebuyers

A new National Empty Homes Grant Scheme aims to bring up to 2,000 properties vacant for more than a year back into use.

The Welsh Assembly has set aside £50 million for the scheme, which offers grants of up to £25,000 for homeowners or buyers to remove hazards like asbestos or improve energy efficiency.

Homeowners signing up for the deal must show that the local council recognises the property as empty. Once works are complete, the owner must live in the home as their primary and only residence for five years.

“I am pleased to announce the allocation of £50m that will be used to bring more empty properties in Wales back into use,” said housing minister Julie James.

“The latest statistics show Wales has more than 22,000 long-term empty properties. These are wasted housing resources that can become a blight on our communities.

“The funding announced today will be used to reduce the number of empty properties and, therefore, increase the housing supply. “

Critics claim the scheme is not viable as no one wants to live in most empty properties or has no money to buy.

When is the next election?

Prime Minister Rishi Sunak can call an election anytime but must declare a poll before Parliament automatically dissolves on December 17, 2024. If the Parliamentary session runs until this time, the election must occur in January 2025.

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Investing in a Property

Investing in a private rented property can be achieved in a variety of ways. Sometimes landlords inherit a property that they then turn over to renting. Sometimes owners of properties become unintentional landlords because they are unable or unwilling to sell a property at the value the market currently dictates.