With Labour now in government, what will the next 100 days look like for landlords? Here, we discuss what to expect from Labour and address the top concerns for property investors.
Keir Starmer’s plan for change is here. With Labour’s landslide victory, many landlords will now be anxiously waiting to see how a new government will shape the private rental sector.
Having attended industry events, it’s undeniable that there has been a rising level of concern over Labour’s policies and attitudes towards landlords. To be blunt, a Party’s actions quite often don’t fully reflect the pledges made in manifestos. Furthermore, 14 years of Conservative government have brought in an onslaught of tougher legislation and negative attitudes towards landlords as a whole.
Now, it’s a waiting game to see if this new government will continue to use landlords as the scapegoat for poor housing policies or work with the PRS to implement realistic and positive changes to better support both landlords and tenants.
The key pledges in Labour’s manifesto for landlords were:
- Abolish Section 21 immediately
- Cap upfront payments from tenants securing properties and end ‘bidding wars’
- Drive up standards in the rental market (Awaab's Law)
- The Warm Homes plan - Ensure all properties meet energy-efficient standards by 2030
- Build 1.5 million homes over the next parliament
The next 100 days
The King’s Speech will lay out Labour’s priorities for change, which will give us a better idea of what to expect for housing and the wider private rental sector. Realistically, border control and wider immigration issues will be Starmer’s first port of call. However, planning reform and house building will also be high on the agenda.
Of course, the main concern for most landlords is Labour’s stance on Section 21. Whilst the Party has consistently promised to abolish these ‘no fault’ evictions immediately, we saw the Conservatives see reason and acknowledge the need for court reforms before this was possible.
Angela Rayner, the deputy leader of the Labour Party, has made it clear that this will be an issue that is high on her priority list. However, it’s more likely that wider issues, such as NHS funding, will be first on their battle plan. Other pledges, such as imposing VAT on private school fees, have also been cause for contention amongst the public in the run-up to today’s election results. For now, we have to wait and see how the Party tackles these debates moving forward.
A timeline of events
Day One:
Keir Starmer will ask the King for permission to form a government.
Week One:
The new prime minister will meet world leaders at the 75th Nato summit in Washington DC.
Week Two:
The King’s Speech takes place on July 17th, which formally opens the new parliament and kickstart it’s legislative priorities.
Summer recess will start mid to late July until September, pausing any further developments or major changes.
October:
Labour will publish their first Budget since 2009, rolling out their economic plans for the UK. This will be a pivotal moment in the new parliament’s first 100 days as Labour sets the stage for what to expect over the next five years.
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