Three newly elected Labour MPs have swiftly risen to become some of the top landlords in the House of Commons.
The Financial Times has reviewed the latest register of interests for new MPs and found that Jas Athwal, who recently became the Labour MP for Ilford South after serving as the leader of Redbridge Council, is among the top five landlords. Athwal’s property holdings include 15 residential properties and three commercial properties, all of which are co-owned with a family member. This significant property portfolio highlights his new position in the list of major property owners in Parliament.
His collection of rental properties exceeds that of shadow chancellor Jeremy Hunt, who is known for his substantial wealth and owns nine rental properties according to the official register. Hunt’s portfolio highlights his significant presence in the property market as a multi-millionaire entrepreneur. This places him among the more prominent figures in property ownership within the political sphere.
In the House of Commons, the third and fifth largest landlords are also new Labour members. Gurinder Josan, MP for Smethwick in the West Midlands, ranks as the third-largest landlord. He owns eight rental properties, with additional holdings by his family members. This considerable portfolio demonstrates Josan’s substantial investment in the rental property sector.
Southend East MP Bayo Alaba holds the position of the fifth-largest landlord in the Commons, owning seven rental properties. Like Josan, these properties are shared with family members. The presence of these new Labour MPs among the top landlords underscores their significant involvement in the property market.
His collection of rental properties surpasses that of shadow chancellor Jeremy Hunt, a well-known multi-millionaire entrepreneur who owns a notable nine rental properties according to the official register. Hunt’s substantial property portfolio highlights his considerable investment in the real estate market, positioning him as a significant figure among property owners within the political realm. His holdings reflect his financial success and influence in the sector.
Within the House of Commons, the third and fifth largest landlords are also new Labour members. Gurinder Josan, MP for Smethwick in the West Midlands, is the third-largest landlord. Josan’s portfolio includes eight rental properties, with additional holdings owned by his family members. This extensive collection underscores Josan’s active engagement in the property market, showcasing his significant investment and influence.
In a similar vein, Southend East MP Bayo Alaba ranks as the fifth-largest landlord in the Commons, owning seven rental properties. Alaba’s properties are also held jointly with family members, further highlighting the substantial presence of Labour MPs in the property sector. The involvement of these new Labour MPs among the top landlords reflects their notable contributions to and investments in the real estate market.
Tom Darling, director of the Renters’ Reform Coalition, recently spoke with the Financial Times about the need for urgent rental reform. Darling warned against repeating past mistakes where parliamentary interests potentially delayed and weakened essential legislation. He stated, “We must avoid a repeat of the previous rental reform efforts, where there were concerns that MPs’ private interests in property slowed down and diluted crucial reforms.”
Darling emphasised that while owning rental property should not automatically disqualify someone from serving as an MP, those who are landlords have an added responsibility. He believes these MPs owe it to their tenants and constituents to support and advance necessary reforms in the rental sector promptly.
In response, a government spokesperson, quoted by the Financial Times, assured that the current administration, led by Starmer, is committed to making the tough decisions that the previous Tory government avoided. The spokesperson outlined the administration’s plans to provide renters with greater stability and security. This includes measures to ban no-fault evictions, eliminate rental bidding wars, and enhance protections against issues like damp, mould, and cold conditions.
Tom Darling, director of the Renters’ Reform Coalition, recently spoke with the Financial Times about the need for urgent rental reform. Darling warned against repeating past mistakes where parliamentary interests potentially delayed and weakened essential legislation. He stated, “We must avoid a repeat of the previous rental reform efforts, where there were concerns that MPs’ private interests in property slowed down and diluted crucial reforms.”
Darling emphasised that while owning rental property should not automatically disqualify someone from serving as an MP, those who are landlords have an added responsibility. He believes these MPs owe it to their tenants and constituents to support and advance necessary reforms in the rental sector promptly.
In response, a government spokesperson, quoted by the Financial Times, assured that the current administration, led by Starmer, is committed to making the tough decisions that the previous Tory government avoided. The spokesperson outlined the administration’s plans to provide renters with greater stability and security. This includes measures to ban no-fault evictions, eliminate rental bidding wars, and enhance protections against issues like damp, mould, and cold conditions.
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