Good landlords have little to fear from a Labour government if it can stabilise the economy to support the property market and make renting easier and less volatile, according to one letting agent.

Portico – part of Leaders Romans Group – says it’s good news for landlords that Labour has acknowledged the importance of new housing, with a promise to build 1.5 million homes over the next five years.

The party also recognises the urgent need for more council and social housing, the scarcity of which is putting pressure on the PRS.

According to Portico’s recent lettings survey, 41% of landlords and 32% of tenants cited this shortage as one of the top three factors driving up demand and, consequently, rents.

Pro-tenant?

However, the new government is likely to lean more in favour of tenants than landlords, it warns, particularly through its renters’ charter, the alternative to the stymied Renters (Reform) Bill, while it also has plans for rental properties to meet tougher minimum energy efficiency standards by 2030.

The agency says: “We are eager to collaborate with the new government to reassess the taxation of good landlords to jointly address the undersupply of rental homes in both social and private sectors, provide clear and reasonable guidelines on energy efficiency with realistic and manageable timeframes to enhance sustainability, and to develop housing policies that ensure stability and address the real issues in the sector.”

However, the sector is likely to have to wait until the State Opening of Parliament and the King’s Speech on 17th July to learn what the government will prioritise in their first 100 days and beyond.