The new Government needs to back the nation’s landlords as a new report by Peers finds that institutional investors are failing to provide for the rental sector.
The Residential Landlords Association (RLA) is pointing to a House of Lords report published on Friday which says that corporate investors ”have so far achieved little” and are “not providing for the rental sector”.
It also notes Ministers “should not overlook the role the existing housing stock plays.”
The RLA is now calling on the new Government to drop its predecessor’s attacks on the buy-to-let market and ensure that the tax and planning systems encourage individual landlords to invest in new properties and bring empty homes back into use.
Alan Ward, Chairman of the RLA said:
“This report confirms everything we’ve known. Corporate investors are simply failing to develop the new homes to rent we need.”
“The vast majority of landlords are individuals, renting out just a few properties. With the right planning and tax policies, they are ideally placed to invest in new homes to rent and to make better use of the country’s existing housing stock, including converting large properties into more useable smaller units of accommodation.”