Proposed labour party policies not welcome by rental agents
Rental estate agency chain Belvoir recently issued MPs and tenants with a stark warning of what they believe would be the negative impact of the proposed policies by Labour to protect tenants from rogue landlords. The proposed rental cap on statutory long-term rental agreements is causing outrage amongst letting agents who fear that it could have a negative impact on landlords, particularly when interest rates rise. Belvoir added that landlords may be forced to sell their portfolio, thereby reducing the stock of rental properties even further.
Tony Coe, CEO of Saunders 1865 – The VIP Relocation Company that represents tenants on behalf of corporate employers – remarked “I don’t agree with a cap on rents; but I do agree that landlord’s agents should not be charging tenants fees in addition to the fees which they already charge to their real masters who are the landlords!””
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