The industry has hit back at Sir Keir Starmer's assertion that landlords are not working people.
Recently, Starmer was asked to define which people constitute “working people”, specifying that people who make money from property, such as landlords, “wouldn’t come within my definition”.
“It is simply not true that landlords are not working people,” National Residential Landlords Association, Ben Beadle, has argued.
Beadle pointed out that, according to official data, 30 per cent of landlords are employed full time, with a further 10 per cent working part-time.
Additionally, 28 per cent are self-employed in some way, while 35 per cent are retired and are likely to rely on their rental income for their pension.
“Rather than stoking misconceptions, the government needs to focus instead on the challenge in the rental market, namely a lack of homes to rent to meet ever growing demand,” Beadle added.
Similar disagreement was expressed by VIBE Finance director and specialist broker, Kim McGinley, who said: “The government should be supporting landlords, not driving them to the edge.
“I don’t blame any landlord for wanting out after all this; they’re not the villains here, and the economy is already on thin ice.
“This approach is dangerous, and the fallout could be huge.”
Meanwhile, Warners Financial Services mortgage and protection adviser, Keith Hood, said: “Many of my landlords clients are full-time, it’s their sole occupation.
“I’m baffled that landlords are not considered ‘working people’ by this government.
“The Private Rental Sector is hugely important to this country and landlords are simply considered a ‘soft target’.”
Albion Financial Advice director, Dariusz Karpowicz, added that most landlords are hardworking individuals who’ve invested their savings to provide essential housing.
“If the government continues to demonize landlords and make their lives increasingly difficult, we’re heading for a deeper housing crisis.”
Thanks to the Newspage community for sharing their thoughts with FTAdviser.
tom.dunstan@ft.com
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