Labour's victory in the general election marks a significant turning point for the private rented sector (PRS). With their ambitious plans for housing reform, it is crucial that the new government addresses the pressing issues facing both landlords and tenants.

Firstly, fiscal reform must be a priority. The current tax regime has already driven too many landlords out of the PRS due to increased taxes and additional regulations. Property lets are the only businesses in the UK that do not have taxes offset. To ensure a stable and thriving rental market, taxation must be reassessed to level the playing field.

Secondly, the role of the PRS in addressing homelessness cannot be overstated. With a growing deficit in affordable homes, the PRS is pivotal in providing homes for those in need. Labour must shift its focus from penalising rogue landlords to supporting and encouraging fair and honest landlords who contribute positively to the housing sector.

Critical

Energy efficiency demands are another critical area that requires clarity. Landlords need a realistic and manageable timeframe for implementing energy efficiency improvements, considering the associated costs and rental voids. Clear guidelines and reasonable expectations are essential for the long-term sustainability of the sector.

The failure to pass the Renters (Reform) Bill was a setback, highlighting the need for comprehensive housing policies that provide stability and address the critical issues in the sector.

Labour's promise of 1.5 million homes over the next parliament is ambitious, and while it is promising to see a focus on housing build programmes, the undersupply in the PRS during this period must also be addressed.

Finally, clear commitments on Capital Gains Tax (CGT) will provide homeowners with the certainty they need to plan their futures without fear of sudden policy changes.

We urge the new government to place housing at the heart of its agenda, providing the consistency and long-term focus that the sector desperately needs. The private rented sector is integral to solving the housing crisis, and we look forward to working with Labour to ensure that all aspects of the housing market are effectively addressed.

Allison Thompson is National Lettings Director at Leaders Romans Group.‍