If you are a landlord or property investor trying to make sense of what the party manifestos mean to you for General Election 2019, here’s a round-up of the main points.
The Tories under Prime Minister Boris Johnson have pledged to shore up landlord rights.
The manifesto confirms Section 21 no-fault evictions will go, but the party promises to ensure ‘good’ landlords will have support from the courts to possess a rented home.
There’s also talk of lifetime deposits for tenants. The idea seems to be a central body will hold a deposit that tenants can transfer as they move to a new home.
Expat and other non-resident landlords can expect a stamp duty hike.
Labour’s plans for the private rental market go much farther.
Led by Jeremy Corbyn, the party wants to impose rent control linked to inflation even though rents are currently rising at a rate lower than the cost of living.
Also in the pipeline are open-ended tenancies despite research suggesting tenants don’t want them.
Second home owners face higher costs with a levy on properties used as holiday homes in a bid to combat homelessness. That assumes the homeless want to go to holiday areas lacking jobs and infrastructure.
Jo Swinson’s Liberal Democrats also want to soak who they see as rich property investors with a 500% council tax penalty on second homes and more stamp duty for non-residents buying holiday homes.
The Lib Dems also opt for minimum three year tenancies, minimum energy efficiency standards for rented homes and rent controls.
One welcomed initiative is a Help To Rent scheme for first time tenants under 30 which offers a government guaranteed loan to cover the rent deposit.