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What Will a Labour Election Mean For The UK Housing Market?
Manage episode 399861692 series 3504934
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In today's podcast, Mark discusses the upcoming elections and the potential impact on the property market if Labour is elected.
Mark emphasizes the importance of surrounding oneself with like-minded individuals in the property industry, as this can prove helpful when facing challenges. pin has over 20,000 property investors who document their daily tasks so make sure you join the group.
If Labour wins the elections, they are considering introducing a bill that would allow tenants to refuse rent increases. In such cases, a panel would be created to decide whether the landlord's requested amount is justified and if the rent should be lowered or accepted.
Mark raises a valid point about tenants' responsibilities regarding property maintenance. For instance, issues such as dampness and condensation can arise due to tenants not opening windows, leaving heating on, etc. In such cases, shouldn't the tenants be responsible for fixing these problems since they are living there, and not the landlord?
Regardless of the election results, Mark believes that property investors should always stick to their ethical principles and focus on creating a win-win situation for both tenants and landlords. Fairness is essential, and property investors should aim to provide a good home for tenants creating a good environment and a healthy relationship with their tenants.
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