Whatever your political allegiance, it’s hard to argue against the fact landlords have been hit hard over the last few years and with (albeit so far unfounded) rumours that another Stamp Duty hike for landlords is on the cards, it seems the onslaught isn’t letting up any time soon.
Of course, it’s not just the party in power taking a swing at the landlord sector. The Labour party, which has hit out at the sector several times in the past, has recently called for tougher action to be taken against landlords.
At the time of writing this piece, MPs were about to vote on a government bill to improve tenants’ rights but the opposition party has already made it clear the bill doesn’t go far enough.
Labour would like to see an increase in the fines ‘rogue’ landlords are forced to pay if they treat tenants unfairly. The party says it would like to see such landlords fined £30,000 for first offences and then unlimited fines for offences that follow.
Now, I can completely understand why landlords may see this as just another attack on an already embattled sector. But the truth is, such a move would actually be a good thing for landlords.
At present it’s so easy to blame landlords for all of the ills of the property market. And when stories of unscrupulous landlords crop up this only serves to strengthen that argument. News reports of tenants who have suffered at the hands of rogue players make it ever more difficult to argue that the PRS is, on the whole, a professional and well-run sector.
Tougher fines for landlords who refuse to adhere to the industry code of conduct would hopefully drive out the bad eggs and leave those landlords who are providing a valuable service to prove their worth.
