Helen Griffin-Booth, director at Bluerow Homes, says that the party manifestos spell a “promising” future for the private rented sector (PRS), ahead of next week’s general election (8 June).
England’s key political parties have taken a similar stance to the PRS in their party manifestos, each promising a commitment to set three-year tenancies as the norm, to implement strategies to protect tenants from rogue landlords, and to increase standards across the sector.
Director, Helen believes that it is essential that the new government works closely with landlords in order to achieve these policies and stabilise the property market.
Helen says: “The party manifestos spell a promising future for the private rented sector, which will certainly see benefits for both tenants and their landlords.
“The move to introduce three year tenancies will offer greater security for families who want a long-term home, while landlords will benefit from guaranteed income.
“That said, there is a risk for landlords being tied down to “problem tenants”. Given the length of the tenancy, it will be executed as a deed rather than a tenancy agreement, meaning that it will be more difficult to terminate the contract.
“I would like to see a wider implementation of break clauses across the country, allowing greater flexibility for both parties to terminate the contract early.”
“The manifestos also give leverage to the hope that the next five years will spell a continued increase in standards across the sector, and removing rogue landlords and agents from the market will play a key role in this.
“To achieve these standards, it is essential that landlords are offered support from the government in providing quality, affordable housing stock for the PRS. This will not only benefit landlords and tenants, but will help to stabilise the property market as a whole, and offer a much needed boost to the wider economy.”