I congratulate the hon. Member for Westminster North (Ms Buck) on bringing forward her Bill and giving it a good airing. Unfortunately, we do not have a great deal of time left, so I am not sure we will be able to do it justice, but I certainly commend her for it.
First, I should draw the House’s attention to my entry in the Register of Members’ Financial Interests. As I have said in previous debates on this subject, I am both a landlord—although an accidental landlord, I might add—and a tenant, and therefore in the unusual position of being able to see both sides of the argument and having an interest on both sides of the argument.
The private rented sector has been a topical issue for many years, not least recently, and there have always been arguments for more regulation of the industry. Indeed, landlords appear to be an easy target for the left. As this Bill is again directly targeted at landlords, it is worth considering exactly who these landlords are. The DCLG’s private landlords survey of 2010 found that more than three quarters—78%—of all landlords owned only a single dwelling for rent, comprising 40% of the total private rented housing stock, while 95% had fewer than five dwellings in their property portfolio,
accounting for 61% of the total stock. A large majority—81%—of private individual landlords owned just one dwelling, of whom 97% had fewer than five properties in their portfolio. Only 3% of private individual landlords owned five or more dwellings, and they accounted for almost a quarter of all dwellings owned by private individual landlords.
Basically, nearly four in five landlords only rent out one property. When we talk about additional regulations and burdens, it is always worth pointing out that the vast majority of those affected are individuals with just one property, not great conglomerations or massive corporations renting out huge numbers of properties. I sometimes think that Labour Members want us to believe such a caricature.