Review of the Private Rented Sector acknowledges small landlords’ contribution

Posted under General by Jermaine

An evidence-based review of the Private Rented Sector, published recently, acknowledges vital contributions by the small UK landlords in providing a housing mix which is helping both tenants and landlords in combating the economic crunch.

The authors of the Review of the Private Rented Sector (PRS), Dr. Julie Rugg and David Rhodes, recognised a need towards evidence-based recommendations rather than myth-driven policy decisions by the Government.

The publication has been welcomed by the UK’s leading organisation National Landlords’ Association (NLA).

According to the chairman of NLA, David Salusbury, the Rugg Review offered various policy options to the Government based on independent and reliable evidences devoid of rhetoric and myths.

David Salusbury felt that the review was encouraging commitment for the growth of letting business for smaller landlords and also encouraged larger investments where appropriate, implying tax incentives to attract investment in quality housing.

The review cleared doubts about build-to-let, stating that residential and commercial lettings were two very different sectors in real sense. It also recognised that smaller landlordism did not necessarily mean financial instability.

The review explained how local authorities could play critical role in the management of sector with existing tools. It called for doing away with the assumption that PRS tenancies terminate against tenant’s expectations, while recognising that specific reasons have been the major cause for tenancy failures.

The review finally suggested need to evolve a working model and avoidance of any quick-fix solution.

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