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The government is being urged to “reverse failed policies” as the rental crisis deepens.
Ministers have been slammed by the National Residential Landlords Association (NRLA) and Propertymark for introducing punitive tax measures that deter landlords from investing in the buy-to-let sector.
Responding to data published by Rightmove showing the average number of people enquiring about each available home to rent has increased to 25, Ben Beadle, chief executive of the NRLA, said: “Tenants are bearing the brunt of the supply crisis in the rental market. This is a result of failed Government policies.
“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.
“The government must take action to stem the loss of rental properties across the country. The Treasury needs encourage investment by reversing the damaging tax hikes which penalise landlords who provide much-needed housing. It’s also crucial that the Government makes clear assurances that landlords who make legitimate possession claims will not become mired in a broken court system once section 21 evictions are abolished.”
Propertymark shares the NRLA’s view and wants to see a full review of all taxes affecting private landlords, with a view to encouraging greater investment in the PRS.
Nathan Emerson, CEO at Propertymark, said: “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.”
Letting agents currently handling 25 rental enquiries for each property
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