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Lord Truscott (Non-Afl)

Speaking in the House of Lords on 27 November 2024

Debate

Landlords: Long-term Rentals

Contribution

My Lords, I declare an interest as a landlord and a former private renter, and I apologise for jumping up a bit early previously. Does the Minister accept that removing tax incentives and reliefs on mortgages for private renters has led to a diminution, in some cases, of the number of properties supplied to the sector, and certainly acted as a disincentive? As a result of that, together with other factors, more landlords are leaving the sector rather than coming in. The question of short lets has been mentioned. Increasing numbers of landlords are moving to platforms such as Airbnb, which are four times more profitable than long lets. Surely, in order to meet the Government’s housing targets, we need more long-term lets in the sector, not fewer.

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