One-fifth of MPs are Landlords

Out of a total of 650 MPs at Westminster, 126 of them are private landlords, that?s 20% of the total, and compared to the general population of 3% being landlords, MPs outnumber this by 17%.

The campaign group Generation Rent analysed the new batch of MPs Register of Members' Financial Interests to see which ones declare their interest by receiving rental income from residential property. Added to this is another 10 MPs who rent out and supplement their income with commercial property, though the overall number receiving rent is down from 153 members in the last parliament.

According to 24dash.com a social housing and public sector news website, the new biggest landlord in Parliament is Kevin Hollinrake, MP for Thirsk & Malton, with 12 properties, followed by Michelle Thomson (Edinburgh West) with 9. Previously, and the record holder it would seem, was James Clappison, who stepped down as MP for Hertsmere before the election, let out 31 homes.

The analysis shows that not all the MPs are accidental landlords letting out their second home bought at a time when they could put mortgage payments on expenses; 52 MPs have more than one rented property. Some, Generation Rent says simply list 'property?, making it impossible to know how large a portfolio they own.

The research shows that Conservative MPs are most likely to be landlords with 89 of them letting at least one residential property (27% of the parliamentary party). Among Labour MPs, 25 are landlords (11%) as are 8 SNP MPs (14%). It seems, jokes 24dash there are not enough LibDem MPs for a mortgage!

In calling on tenants to email their MPs, Generation Rent asks them to remind their local MP of the need to 'make renting more stable and decent.?

Betsy Dillner, director of Generation Rent, said:

?I am certain that the 126 landlords in parliament have an impeccable record, responding quickly to disrepair, letting their tenants create homes, and not raising the rent unnecessarily.

?However, this shouldn?t blind them to the exploitation that is happening in the worst parts of the lettings market. Some of the most vulnerable members of society rely on private landlords for a roof over their head, and they rely on Parliament to make sure they?re properly protected. The prevalence of landlords in parliament is a reminder to private tenants how important it is to make their voices heard.?

... LandlordZONE.


Article courtesy of LandlordZONE
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