I was interested to hear the Labour Party’s policy on private sector rentals and thereafter the Association of Residential Letting Agents’ response. ARLA are very much against the rent pledge, fearing that it will ultimately lead to increase in rents and reduce the quality of properties across the UK. I have to say that I do agree with them and history would tend to show that policies such as the rent pledge will only lead to a significant lack of investment in existing properties reducing their quality and ultimately leading to increased rents.
I would prefer to see the following:-
1. Wholesale regulation of property management firms.
2. Licensing requirements for all rental properties meaning that all properties for rent require to be of a certain standard – fire safety etc (based on current HMO Regulations).
3. More support and incentives for the building of new homes and the improvement of existing properties.Lindsay Darroch Partner – Head of Property