The Free Democratic Movement has released a document providing information on its plans to “revitalize Bermuda’s housing sector”.

A spokesperson said: “Finding a decent place to live on our beautiful island has become a major challenge. High prices and limited rental options mean finding accommodation is out of reach for many Bermudians. At the heart of the problem is outdated legislation, particularly the Control of Rent Increases (Domestic Premises) Act 1978. Although once well-intentioned, this law now creates obstacles.

“Many landlords, feeling their property rights are compromised, are avoiding the long-term rental market altogether, leaving their properties empty, converting them to short-term rentals or upgrading them beyond affordable levels. In some cases, these restrictions have even led to discriminatory practices among owners. The scarcity created by these policies only increases competition, leaving fewer options for Bermudians seeking stable housing.

“Our plan will phase out outdated rent controls and introduce a fair and modern landlord and tenant law, drawing on best practice from the English Consumer Rights Act 2015. This new law will protect both tenants through to clear and balanced agreements while giving owners the confidence necessary to return to the rental market.

“Here is our change schedule:

Immediate actions (0-1 years):

• Review tenant and landlord legislation to phase out restrictive rent controls and establish best practices for fair agreements and tenant protections.
• Adjust zoning to allow for the conversion of commercial, industrial and institutional areas to residential use, thereby increasing the availability of housing.
• Offer long-term leases for government properties in disrepair, adding housing at no cost to taxpayers.
• Reduce taxes on building materials to reduce development costs and support rapid housing expansion.

Short and medium term objectives (1 to 3 years):

• Implement a self-managed, streamlined approval framework with necessary checks and balances, allowing certified developers to proceed with reduced oversight.
• Launch consultations to update and consolidate construction and development laws.
• Eliminate property taxes for affordable rents and strengthen rental assistance programs with dedicated funding.
• Introduce rent-to-own options for tenants with a stable history in government-run properties.
• Develop a comprehensive housing registry to provide data on housing availability, enabling informed decisions and identifying new development opportunities.

Long-term goals (4-6 years):

• Expand homeownership opportunities through the sale or tender of certain government-owned properties.
• Implement new tax cuts based on housing market conditions to promote affordability.
• Establish an annual review process with public consultations and regular reporting on key housing metrics to ensure policies adapt to Bermuda’s changing needs, promoting transparency, trust and community participation.

Our goal is simple:

“Bring more rental properties back to the market and give Bermudians the housing options they deserve.” This plan aims to increase supply, bring stability to our communities and take a crucial step forward for Bermuda’s future.

The Free Democratic Movement’s full housing policy follows below (PDF here):

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