One of the last acts by the Government will cut the rent payable to landlords in half. There will be a devastating effect on house providers when the single room rent on housing benefit payments is extended to all single people under the age of 60 and the 50 per cent top-up between reference rents and local rents is abolished.
This legislation will cripple an enormous number of small businesses as hundreds of landlords will be forced out of business. Landlords have been encouraged by the Conservatives to invest in raising housing standards only to find the properties will no longer attract an economic rent.
As these regulations apply only to the private rented sector - housing associations being exempt - I can only conclude this is an attempt by the Conservatives, the so-called champions of private initiative, to nationalise the rented sector of the housing market.
The legislation will force many landlords to stop investing in properties. The Conservative manifesto states: "Entrepreneurs often risk everything when they set up their own business." They certainly do when investing in housing under a Conservative government.
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