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News Article

"In May, you MUST give your Tenants the Renters Rights Information Sheet or

YOU RISK  - £7,000 FINE  PER TENANT PER PROPERTY."READ MORE

Updated Research Calls Out MP Landlords

8th May 2024

The latest updated version of research initially released a year ago in May 2023 is once again criticising MPs who are landlords on the side.


Image credit: iStock

The online platform 38 Degrees which hosts petitions is now claiming that 20 per cent of Tory MPs – 72 – have had to declare rental income of more than £10,000 by letting out English properties from April 16th 2023 to April 15th this year.

Conservative members of the cabinet include Chancellor Jeremy Hunt who owns seven private rental properties in Southampton, Justice Secretary Alex Chalk and Education Secretary Gillian Keegan.

Labour has 18 MP landlords and the Lib Dems have two with the shadow cabinet’s MPs Emily Thornberry, David Lammy and Lucy Powell declaring rental income.

As at April 15th there were currently 173 MPs who declared a property portfolio totalling more than £100,000 or more in the Register of Members’ Financial Interests.

However MPs do not have to declare income from commercial properties as well as PRS properties outside England which are not subject to the Renters Reform Bill.

38 Degrees claims that there maybe more MPs who could be classed as landlords as they are not required to register any rental income up to £10,000, whilst another 30 MPs own a residential property worth more than £100,000 in England who did not declare any rental income.

A spokesperson for the platform says: “Our rental system is broken and – having come into this parliament with a manifesto promise to fix it – the Government is increasingly running out of time. With an election coming up, England’s millions of tenants will be watching, and they’ll see any watering down of the Renters Reform Bill as the betrayal, and broken promise, that it is.

“Whilst there’s nothing inherently wrong with MPs making money through the rental system, those who do must show they’re putting the interests of millions of vulnerable tenants over financial gain for landlords.

“All MPs – but especially those whose tenants, as well as constituents, are counting on them to reform our broken system – need to make sure this overdue bill finally fulfils the promises made to millions of renters.”

The research’s data was taken from the Register of Members Interests for all MPs who registered an interest in “land and property portfolio” – category 6 of the House of Commons registration requirements - which were considered  based on type, number of properties and location.

Properties listed as business premises, such as shops, dental practises etc or for farming are excluded along with properties described as solely used for holiday rentals.


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"In May, you MUST give your Tenants the Renters Rights Information Sheet or

YOU RISK  - £7,000 FINE  PER TENANT PER PROPERTY."READ MORE

 

 

 


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Fit for Habitation|March 2019 The ACT is intended to define minimum standards a rental property MUST be and makes a clearer pathway way for Tenants to be compensated|https://www.pims.co.uk/fit_for_habitation_act_march_2019/ Guarantor|The person who provides a guarantee and promises to make payment good should the person responsible for the agreement fail|http://www.pims.co.uk/guarantors/ MEES|The Minimum Energy Efficiency Standard (MEES) Landlords are charged with the requirement to bring their rental property to a minimum EPC rating of E. Property with F and G rating will effectively be banned from the rental market April 2018 |http://www.pims.co.uk/epc/ Section 11|Section 11 of the Landlord and Tenant Act 1985 places an obligation on the landlord to maintain the structure and exterior of the property, including installations for the supply of water, gas and electricity, heating systems, drainage and sanitary appliances|http://www.pims.co.uk/landlord-section-11-repairs/ serving date|This date is the date deemed received at the property - as an example if posted allow for posting days|/serving-notice-on-a-tenant-delivery-days/ Tenancy Application|The objective of vetting is to empower yourself so you can make an informed decision as to the calibre of the prospective person. Making your decision on facts and figures is invaluable and this is why you should always take references. The application form also provides you with permission to perform credits. This form details all the information you should ever require deal with most eventualities including absconding tenants|http://www.pims.co.uk/doc/57/ Tenant Fees|From June 2019 where renting properties in England gone are the days of charging for admin, letting fees, vetting, references, inventory, check in, check out, cleaning, pet insurance or ANY other fee that is not explicitly permitted within the legislation. |https://www.pims.co.uk/ban_letting_fees_act_2019/