Letting agents broadly welcomed yesterday’s housing white paper, which raises many of the significant issues the housing sector is facing, including the need to place greater emphasis on the private rented sector.
From plans to introduce longer tenancies to efforts to encourage more institutional investment to help significantly boost the number of properties available for rent, the Association of Residential Letting Agents (ARLA) expressed its delight at the fact that the government has recognised that owner-occupation is not the only option available for those looking for a home.
“It is important that we have a housing market that works for everyone, not just for those who own their own property,” said David Cox, managing director at ARLA.
However, Cox believes that the new focus on encouraging institutional investment should “not be at the expense of small landlords” who make up the bulk of the private rented sector.
He added: “Experience has shown that, even in countries where institutional investment in the PRS has been encouraged, it still only makes up a small part of the sector.
“Small landlords are vital to the health of our rental sector.”