The housing sector is one of the key talking points in the run up to the 2015 General Election.
This could be due to the fact, on average, Britain needs to build 240,000 homes a year to stay aligned with the increasing population. When last year less than half of this figure were built. Thus becoming a Housing Crisis.
Labour and Liberal Democrats are two of the larger political parties that have proposed changes to private renting in the UK. The Lib Dem’s wish to end the practise of ‘retaliatory evictions’ whereas Labour are fighting for longer-term tenancies, upper limit on rent increases and to make it illegal for letting agents to charge tenant fees.
There has also been discussion around the idea of mandatory landlord registration, which is already running throughout Northern Ireland and Scotland.
The debate has created widespread concerns for industry professionals regarding whether the policies will be detrimental to the rental market.
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We are not sure how the proposed developments and attempts to tackle the ‘Housing Crisis’ will drastically affect us all in the rental sector, we will have to wait till the 7th of May to find out.