Landlords are today welcoming proposals being considered by the Government to provide financial incentives for those offering longer tenancies.
In its consultation launched today, the Government is proposing a number of options to implement a three year tenancy model addressing the demand for longer tenancies from the growing numbers of families and older people in the private rented market.
One of these options proposes ‘financial incentives’ as called for by the Residential Landlords Association (RLA), which the Government argues “could be quicker to implement” then mandatory three year agreements.
The report cites RLA research on the issue extensively, including that 63 per cent of landlords have said that tax relief would encourage them to offer a longer tenancy.
David Smith, Policy Director for the Residential Landlords Association, said:
“With landlords having faced a barrage of tax increases we believe that smart taxation, such as that being proposed today, would provide the longer term homes to rent many families and older people want.
“We would warn against making it a statutory requirement to introduce three year tenancies. Many tenants simply do not want to be tied to a property long term. It is vital that the market is able to provide the flexibility that many need in order to swiftly access new work and educational opportunities.”
- The Residential Landlords Association: The home for landlords
- The RLA represents the interests of landlords in the private rented sector across England and Wales. We are home to over 50,000 landlords nationwide, with a combined portfolio of over a quarter of a million properties. A growing community of landlords trust and rely on us to deliver day-to-day support, expert advice, government campaigning, plus a range of high-quality services relevant to their needs.
- It campaigns to improve the private rented sector for both landlords and tenants, engaging with policymakers at all levels of Government. Our vision is to make renting better for everyone involved in the private rented sector.
- Further information about the RLA can be found at http://www.rla.org.uk/aboutus or by following it on twitter @RLA_News.
- For further information please contact the RLA’s consultant, Ed Jacobs on 0113 278 0211 (office), 07706386773 (out of office hours) or email email@example.com.