All of the major political parties are trying to sweeten Generation Rent voters ahead of an inevitable snap election, and of course as usual landlords will be heavily targeted. The stupidity of the parties' 'landlord bashing' policies is that they have all been responsible for becoming over-reliant on the PRS housing people unable to buy a home.

pixabay.com

The government's proposed abolishment of Section 21 notices to evict renters has the approval of the opposition .They are all 'burying their heads in the sand' if this goes ahead as there will be a major drop in rentable accommodation.

Latest economic research and analysis by Capital Economics on behalf of an industry body, predicts/forecasts that there will be a 20% drop in the number of available rentable homes if Section 21 is scrapped; this will undoubtedly cause rents to rise.

The industry body has already carried out another survey which asked around 6,500 agents and landlords about how they would act if Section 21 was abolished.

46% of respondents said they would seriously consider leaving the sector if the government went ahead with their proposal.

Over 40% of landlords said they are holding back from making any decisions on whether to buy any more properties or indeed sell part of their existing portfolio, until the government makes its plans for the private rented sector far clearer.

Unsurprisingly all of the parties are blaming the present government for the housing crisis but Tom Gatzen, the co-founder of a room share platform, does not agree that this is the case with the property market's present situation.

Gatzen said: “For far too long there has been an overreliance on the rental sector to house those that can’t afford to buy as a result of the government’s consistent failure to provide more affordable housing.

“We’ve already seen the rental landscape evolve with more renters having to rent rooms rather than outright properties due to high financial barriers, and the abolition of Section 21 will only see this increase as demand grows and the number of available properties declines.

“While the latest shake-up of the sector has been done with the best intentions of tenants at its core, such a drastic move needs to be better thought through and complemented with additional policy changes, to ensure the sector remains viable for the landlords that form its foundations.

“As it stands, those most in need are in line to be hit the hardest, while the rest of us will see yet more of our income go towards covering our rent.”