Propertymark has called on the Labour Party for financial support for landlords and more details over its plans to reform the private rented sector should it win the 4 July general election.    

The move comes after the opposition party last night vowed to end rental bidding wars, which have become increasingly common among tenants amid a chronic shortage of supply, it gets into government.  

Last year tenants typically paid an extra £100 a month above the asking price for their home, according to research by the New Economics Foundation thinktank.  

The party, led by Keir Starmer, also plans to “immediately” end Section 21 ‘no fault’ evictions, extend Awaab’s Law to protect private renters from damp and include a 2030 deadline for private landlords to ensure their properties are energy efficient.  

The Conservative Party has also pledged to bring back its Renters Reform Bill, which also plans to abolish ‘no fault’ evictions. The legislation was shelved when it ran out of time at the end of the last parliament.    

The Conservatives also plan to build 1.6 million homes over the next five years, 100,000 more than Labour has earmarked. Over the last parliament the UK added 1 million new homes.    

But Propertymark policy and campaigns officer Tim Thomas says the body “will work with the next government to improve the private rented sector for landlords, agents, and tenants, and we share any ambition to improve standards over the next parliamentary term.   

“However, while on the one hand, the private rented sector should contribute towards decarbonisation, the sector needs clear clarity on what financial and practical support will be provided to landlords at the first opportunity.”  

The National Residential Landlords Association adds that plans to end no fault evictions by Labour, the Conservatives and other parties, such as the Liberal Democrats and Green Party, do not address “the chronic shortage of homes for private rent”.      

It says on average 15 renters chase each available property, which has caused rents to rise across the market.  

The body adds: “Without bold measures by the next government the situation is set to worsen for tenants.”  

NRLA chief executive Ben Beadle points out: “Renters are being let down by a repeated failure to address the rental housing supply crisis.  

“The lack of choice serves only to drive up rents and, given the shortage of alternative accommodation for them to move to, makes it harder for renters to hold rogue and criminal landlords to account.”  

But Generation Rent chief executive Ben Twomey says: “Banning Section 21 ‘no-fault’ evictions was a promise by all major parties at the 2019 election, which the government failed to deliver, so we’re pleased Labour has committed to doing this immediately.  

“Labour has promised to enable tenants to challenge unreasonable rent increases, but in order to do so must go further to slam the brakes on soaring rents, limiting increases to the lower of wage growth or inflation.   

“Tenants looking for a new place to live can face horrendous exploitation, including being asked to bid against other renters for homes, or pay up to six months’ rent in one go to get hold of the keys. This makes it particularly hard for people on low incomes to secure a tenancy.   

“Landlords and letting agents should be required to charge only the advertised rent, and just one month plus the deposit up front.”