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Even as late as yesterday evening it was uncertain whether David Cameron and the Conservatives would manage to win enough seats to secure a majority government. Overnight, however, things changed.
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As the results came in from all areas of the UK, many were taken by surprise and by 10 o’clock this morning the final curtain had fallen on Ed Miliband’s dreams of becoming the next PM.
So what does a Conservative majority government mean for landlords?
No Major Changes to the PRS
The Conservatives are not planning on making any major changes to the private residential sector.
Voluntary Regulation
There are already 400 regulations and 100 pieces of landlord legislation in place to protect tenants from bad landlords. The Conservatives take the view that the sector can be regulated by way of voluntary codes of practice and improvements, whereas Labour were planning to make a number of anti-landlord ‘improvements’, all of which would have been disastrous for the private residential sector and landlords as a whole.
In contrast to Labour, the Lib Dems and Greens, the Conservatives are supporting the private rental sector. They also intend on building 100k new homes and will continue to support institutional investment in the rental market, which is good news for landlords and good news for the rental sector.
