With the election days away, the property sector is preparing for changes that will impact landlords, estate agents and property firms.
We’ve reviewed the main parties’ manifestos, focusing on housing, energy efficiency, and business issues below for you.
There are many similarities but also clear differences. Plenty of promises, grand plans and innovative schemes. Whoever wins will have lots to deliver in the next five years, before we decide again.
Housing Policies:
Building More Homes:
Labour plans to build 1.5 million homes, focusing on increasing the rental supply and stabilizing rents. They also propose investing in social housing and to “get Britain building again” with reforms in planning laws and the development of new towns.
Tax Relief and Grants:
Labour may offer tax reliefs or grants for property improvements and energy efficiency upgrades, helping landlords cover renovation costs.
Green Energy Projects:
Commitment to upgrading homes to EPC standard C within a decade, which could involve significant investments in green technologies and energy efficiency measures.
Tenant Protections and Regulations:
Abolishment of Section 21 Evictions:
Labour plans to eliminate ‘no-fault’ evictions, providing greater tenant stability and making it more challenging for landlords to evict tenants without specific reasons.
Rent Controls:
Labour supports capping rent increases to make housing more affordable, which could limit rental income.
Mandatory Licensing and Improved Standards:
Stricter regulations on property conditions and mandatory licensing are expected, potentially increasing compliance costs for landlords.
Energy Efficiency and Sustainability:
Green Homes Grants:
Labour supports grants for improving property energy efficiency.
Minimum Energy Efficiency Standards (MEES):
Labour targets a minimum energy rating of ‘C’ for rental properties by 2030, requiring landlords to invest in energy upgrades.
Housing Policies:
Housing Policies:Building More Homes:
The Conservatives aim to build 1.6 million homes, helping stabilize the rental market by increasing supply.
Leasehold Reforms: Proposed reforms to cap ground rents and support leaseholders with historic building safety issues.
Business Policies:
Tax Relief and Grants:
Similar to Labour, the Conservatives may provide tax benefits and grants for property improvements and energy efficiency.
Green Initiatives:
Policies supporting landlords in making properties more energy-efficient, potentially through grants or other incentives.
Tenant Protections and Regulations:
End of Section 21 Evictions:
The Conservatives also propose ending ‘no-fault’ evictions but focusing on court reforms to facilitate the process, aiming to balance tenant security with landlords’ ability to manage their properties.
Addressing Antisocial Behavior:
New rules to help landlords evict tenants involved in antisocial behaviour, providing some protection for landlords.
Housing Policies:
Housing Policies:Affordable Housing Expansion:
The Liberal Democrats aim to expand the stock of affordable housing, including social and shared ownership homes.
Green Housing:
Commitment to ensuring new housing developments are environmentally sustainable, promoting energy-efficient building standards.
Business Policies:
Support for Small Landlords:
Proposals to support small landlords through grants and incentives for property improvements and energy efficiency upgrades, similar to the other major parties.
Taxation Fairness:
Plans to review and potentially reform property-related taxes to ensure fairness while supporting housing market stability.
Tenant Protections and Regulations:
Rent Controls and Fair Tenancies:
The Liberal Democrats advocate for rent controls and measures to ensure fair tenancies, aiming to protect tenants from excessive rent hikes and ensure stable housing.
Strengthening Tenant Rights:
Proposals to strengthen tenant rights and protections, including measures to improve dispute resolution processes and enhance living standards.
Energy Efficiency and Sustainability:
Green Homes Grants:
Strong support for grants to improve energy efficiency in rental properties, aligning with their broader environmental goals.
Minimum Energy Efficiency Standards (MEES):
Advocacy for strict energy efficiency standards in the rental sector, promoting upgrades to meet higher environmental standards.
