Industry leaders say Ministers ‘making rental crisis worse’
Ben Beadle at NRLA and Propertymark say tax hikes that deter landlords must be reversed to prevent rents from rocketing even higher.
Property sector leaders have turned on the Government, calling on ministers to “reverse failed policies” as the rental crisis deepens.
Both the NRLA and Propertymark have attacked Conservative politicians running the country for “damaging” tax measures that deter landlords from investing.
Ben Beadle, CEO at National Residential Landlords Association (NRLA) (main picture), says: “Throughout the Conservative conference ministers said they wanted landlords to have the confidence to stay in the market.
However, warm words will achieve nothing without policies to make this happen.”
“However, warm words will achieve nothing without policies to make this happen. The Government must take action to stem the loss of rental properties across the country.”
Failed
He goes on to call on the Government to reverse “failed” tax policies, which have discouraged landlords from entering the PRS.
“The Treasury needs to encourage investment by reversing the damaging tax hikes which penalise landlords who provide much-needed housing,” he says.
Beadle’s comments were in response to new data from Rightmove showing letting agents are currently handling an average of 25 email and phone enquiries from prospective tenants for every property available to rent.
This is more than triple the number they were receiving on average at this time in 2019, and is five more than in May of this year.
Outstripping
Propertymark is calling for full review of all taxes impacting private landlords.
Nathan Emerson, CEO at Propertymark, says: “The crux of the cost of renting crisis is that demand is far outstripping supply – Propertymark member figures in August show that the number of tenants registering for a property is almost 32% up when compared to last year.”
The trade body also criticised housing secretary Michael Gove as he “failed to deliver anything new on housebuilding or the Renters’ Reform Bill” in his speech to this week’s Tory conference.
Politicians ( And, it has to be said, so-called tenant ‘support’ [sic] groups ) are reaping what they’ve sown.
Unfortunately it gives landlords no pleasure to see the carnage imposed on their customers.
Politicians ( And, it has to be said, so-called tenant ‘support’ [sic] groups ) are reaping what they’ve sown.
Unfortunately it gives landlords no pleasure to see the carnage imposed on their customers.