Significant Number Of MPs Are Landlords
Landlords come from all walks of life here in the United Kingdom. Some purely earn their living from renting out properties whilst a number of others have other occupations such as teachers, doctors and solicitors.
Some interesting research has been carried out by Channel 4’s FactCheck that includes the number of MPs in the UK parliament who rent out properties. In fact, there are 123 MPs who do so including some members of the Government.
The above figure equates to not too far off 20% of MPs. We are sure you will agree that is a significant percentage. However, why should an MP not be able to buy an investment property and rent it out to earn additional income just like someone who is say a dentist or a surveyor.
There are 87 Conservative MPs, 28 Labour MPs, 3 SNP MPs, 3 Liberal Democratic MPs, 1 DUP MP and the Speaker of the House of Commons. That means that 28% of Conservative MPs let out properties, 11% of Labour MPs do the same, 9% of SNPs rent out investment properties, 25% of Liberal Democratic MPs do this and 10% of DUP MPs rent out properties.
The above figures may not be entirely accurate as it could be that some MPs have not declared that they do rent out an investment property and they are only required to do so if the rental income from all investment properties that are let out is greater than £10,000 per annum.
Some people possibly feel that an MP who owns and lets out an investment property has a conflict of interest when it comes to voting on bills that relate to renting out properties. It is to be hoped that MPs who are landlords vote without any bias.
We will continue to keep our landlord readers updated with other interesting statistics and news stories about the rental sector.