The Budget is only a couple of weeks away (March 19th) and a group of private landlords that account for the majority of the PRS, (private rental sector) are calling for the government to lay off attempts to impose rent caps. 

An organisation that represents landlords has stated that any rent capping would irrevocably damage the growth of investment coming into the sector and could lead to homelessness as more of the population is becoming ever increasingly reliant on rented homes. 

 

It is also asking all the political parties to look at ways of introducing structures that would make it easier for private landlords to build homes on land owned by councils. Not content with this they are also calling for much needed tax reforms.

The English Housing Survey has recently published figures showing that numbers of private renters have overtaken those in social housing renting.

Prior to the Budget the national organisation is lobbying the Chancellor to introduce new tax measures so that renting is seen as a bona-fide business activity which would have allowances to re-invest into properties to improve their standard. The feeling is that just being reliant upon institutional investment will not be a guarantee to provide the number of new homes needed for renting out.

There is one proposal within its submission that urges the government to allow groups of landlords to work together on forthcoming developments to achieve the £10 million threshold so that they can then qualify for the government's housing guarantees scheme. 

 

The Chairman for the organisation, Alan Ward, said: “Whilst the private rented sector is the only housing sector to be growing, much more action is needed to boost the supply and quality of homes available to rent and keep rent levels down,

 “Our recommendations would help unlock the enormous potential for the army of individuals who rent out property to expand and create more homes and through this, they will be feeding more resources back to the Treasury.”