Friday, November 7th, 2008
An independent review of the Private Rented Sector (PRS) has put forward a set of proposals which include a light touch licensing regime for landlords and mandatory regulations for letting agents.
It’s hoped such measures would provide better protection for good landlords and vulnerable tenants.
There would also be tax changes, including changes to stamp duty, to encourage good landlords to expand their portfolio of properties. Local authorities would be required to develop a better understanding of the market and to support good landlords at the same time as dealing with those who perform badly.
The Review also puts forward proposals to protect vulnerable tenants. There would be an independent complaints and redress procedure which should help prevent long, drawn out disputes. There could also be more help for people on lower incomes. One idea is to provide more support for landlords who are prepared to house vulnerable tenants.
The review was carried out by Julie Rugg, a member of the Centre for Housing Policy at York University. Ms Rugg and her team were commissioned by the Government in January this year to examine the problems of both landlords and tenants in the Private Rented Sector. They looked at the professionalism of landlords and the quality of properties as well as a range of issues across the sector.
Julie Rugg said: “We want to move to a new agenda for the PRS that looks to establish policy that works with the strengths of the sector.
“We hope the review has signalled the Government’s intention to seek a better working relationship with the sector. We now have a much stronger evidence base, and the opportunity to frame more informed policy.”
The Review has been welcomed by the Housing Minister Margaret Beckett. She said the Government agrees that there is a need to improve the sector and will now consider the proposals before setting out the next stage.
We shall keep clients informed of developments. But, if you have any immediate questions then contact Jonathan Friend.
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