29th
Aug 2024
The Financial Times has reported that three new Labour MPs are now in the top 5 of largest portfolio landlords in the House of Commons.
Although many in the sector believe that there will be an ever increasing anti-landlord itinerary, however the Register of Interests reveals 3 of the top 5 portfolio landlords in parliament are now Labour MPs.
The MP with the largest portfolio is newly elected Labour MP Jas Athwal who owns 18 PRS homes in partnership with family members.
The Financial Times’ research found there are 85 MPs who are landlords which is virtually 13% of all MPs.
25% of Conservative MPs are landlords along with 11% of Labour’s MPs and 11% of Lib Dems, which is little change from when the Conservatives were in power as they had with Labour a total of 101 MPs who were landlords.
The FT’s also reported there are 158 MPs who have second homes and/or land which does not make any significant income.
Charities and pressure groups have expressed concerns about the sizeable number of MPs who are landlords and second-home owners who could slow down or drastically change the Renter’s Rights Bill in their favour.
Tom Darling, director of the Renters’ Reform Coalition, told the Financial Times: “We must not have a repeat of the situation that occurred with previous rental reform efforts, where there was a suggestion that parliamentarians’ private interests were contributing to slow-walking and watering down vital renting legislation.
“Whilst we clearly don’t believe being a landlord should preclude you from being an MP, we do think these MPs have an extra duty — to their tenants as well as their constituents — to support and bring forward long overdue renting reforms without delay.”
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