Labour are in! What does this mean for Landlords, Property Investors and Tenants?

Neil and Mark talk about the property and housing elements of the Labour manifesto and what the result of todays election could mean for Landlords Investors and Tenants
Labour Manifesto July 2024
Reform the planning system and reinstate local targets to help build 1.5 million new homes over five years
Build a new generation of new towns, fast track the approval of brownfield sites and release some “low quality” green belt for housing
Prioritise the building of social rented homes and give first-time buyers the chance to buy homes in new developments before investors
Introduce a permanent mortgage guarantee scheme to help first-time buyers
Make it easier and cheaper for leaseholders to extend leases and ban new leasehold flats, while tackling unregulated ground rent charges
Ban so-called no-fault evictions and empower renters to challenge rent increases “We will immediately abolish Section 21 ‘no fault’ evictions”. But will they add no fault evictions under section 8 such as close family members wanting to live in the property or owners wanting to sell.
The Labour manifesto does not include a reference to rent controls. It does, however, say they will “empower [renters] to challenge unreasonable rent increases”. Labour proposed an amendment to the Renters Reform Bill that would have withdrawn the power of the First-tier Tribunal to decide the rent should be higher than the rent requested by a landlord in their Section 13 notice - see amendment 22. It is likely that this approach would be reflected as part of the new rights.
EPC’s. Labour appear to revive this debate, although they don’t mention EPC C rating requirements specifically. In their manifesto they say: “We will ensure homes in the private rented sector meet minimum energy efficiency standards by 2030, saving renters hundreds of pounds per year. Nobody will be forced to rip out their boiler as a result of our plans”.
The Labour Party’s manifesto does not refer to the following provisions that were in the Renters Reform Bill:
Abolishing fixed term tenancies and making periodic tenancies compulsory.
The implied right for a tenant to have a pet.
A new PRS ombudsman.
National register of landlords / PRS database.
New grounds for possession under Section 8.
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