The National Landlords Association (NLA) has slammed the Conservative Party manifesto for proposing nothing to encourage and support landlords to continue investing in the PRS.
Boris Johnson insists that a Conservative majority government will “empower” renters.
However, the NLA hit back at claims made by the Tories that their proposals when it comes to private renting will offer “greater peace of mind”.
Richard Lambert, CEO of the NLA, said: “The Conservatives claim that the changes announced in the manifesto will ‘create a fairer rental market’, but fairer for whom?
“To say that we are disappointed that the Conservatives have pledged to continue with their plan to abolish Section 21 is an understatement. Despite a robust lobbying campaign on behalf of the two million landlords in the UK, the Conservatives seem hell-bent on continuing to punish hardworking and law-abiding landlords.”
Lambert is also sceptical about the Conservative Party’s plan to introduce a new scheme to permit tenants to transfer their tenancy deposits when they move properties.
The new Lifetime Deposit scheme will allow renters to transfer their deposit from one property to another instead of being left out of pocket for weeks while they wait to be reimbursed from their old landlord but have to spend money securing their new property.
He continued: “We will reserve judgment on the so-called “lifetime deposit”. The Conservatives has yet to confirm what this will look like or how this will work in practice.
“The NLA cannot get behind a manifesto that so badly cripples landlords’ ability to run a functioning letting business.”
The NLA has also hit out at Labour’s manifesto for being “too exteme”, as well as “unrealistic”, not to mention “hugely damaging to housing supply in the UK”.