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PDPLA Host 'Private Rental Sector' Husting

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PDPLA Host 'Private Rental Sector' Husting

We changed the format for our monthly meeting in May and invited all of the then announced candidates for Portsmouth South to come and talk to us about their parties views on the Private Rental Sector.

We met sitting Conservative MP Flick Drummond, ex-council leader and Liberal Democrat Gerald Vernon Jackson plus local Labour leader Stephen Morgan who announced he was a 'hustings virgin' and Ian McColloch from the Green Party.

Attendance was good but surprisingly, many were new (and welcome) faces from the RLA, the NLA and the SLA. Our own members apparently did not have time or interest which is a shame and a missed opportunity.

 

 

If anyone wants to see a 'blow by blow' account of the evening, the RLA twitter feed for the night (9th May) does a very good job - see it here:  https://twitter.com/RLA_News

For those preferring a summary, we hope we managed to get our own message across to all of the candidates - at the time, the Conservative Manifesto was not published and Flick asked us to send her evidence of the injustice that landlords had suffered at the hands of the last government.  We did so - see our input here - there is nothing obvious in the manifesto but we will keep pushing the message and we live in hope that our plight has been heard and some rebalancing will take place in the Chancellors autumn statement.

We also attached a number of supporting documents and our input to Flick read as follows:

"You asked for input / explanation of the impact of the recent tax changes on landlords, so you could share with your colleagues and the Treasury.

Please find attached a hastily put together word document summarising some of the key issues, pointing to some of the research, quoting two specific examples from attendees last night and a worked example showing the calculations and impact on a 'typical small developer landlord".

In that document is an excerpt from a very detailed piece of research by an economics professor at Imperial College which assesses that rents will rise by at least 27% as a result of these changes - I know time is short for all, but that research should be required reading for anyone considering changing the tax position of this sector.

I have also attached a briefing the RLA did for Dame Marie Winterton (the chris town briefing) and an RLA 'Finance and Tax Review" which states:

• The majority of landlords (71%) reported the changes would negatively impact on their rental income
• With 67% of landlords facing reduced profitability due to changes in MIR
• 68% of these landlords reported these changes would reduce their profitability by at least 20%

And finally, I have attached a softcopy of the RLA 2017 Manifesto as that makes some very good points as well.

Thank you once again for sharing your time last night and if you can help resolve some of these issues, we would be very appreciative."

 

PDPLA Hustings 6778

 

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About the author

Martin Silman

Martin began his landlord journey 30 years ago, while working in an international role for a global telecommunications company. Since retiring he has extended his portfolio, which he manages with his wife, but has always focussed on the ‘small student HMO’ sector preferring to offer homes in the community for small groups to the more common ‘pack them in and take the money’ mentality. He has chaired the PDPLA for the past 12 years and has overseen the Associations transition from small local self-help group to a much larger and more professional institution which is recognised and listened to nationally. Alongside his PDPLA role, he also has leadership roles in a number of other local organisations – bringing his unique perspective, driving for change and increased use of technology while respecting the history that brought us here.

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