Buy-to-let sector analysed by new report

Setting up a housing standards monitor is among new recommendations published by a legal group on regulation of the UK buy to let property sector.

The Law Commission has released Housing: Encouraging Responsible Letting, which sets out to improve self-regulation in the private rented sector.

The report follows the canvassing of both tenants and landlords and has already been presented to MPs.

Landlords broadly welcomed the findings. National Landlords’ Association (NLA) chairman David Salusbury said the report could only be a “good thing”. He said:

“We are pleased to see the recognition that local authorities have an important role to play in the enforcement of regulation.

“It is critical to assess this report alongside the other reports and consultations to ensure we break this ‘piecemeal’ approach to the private rented sector.”

The NLA now has around 20,000 people on the books, with the typical member boasting an average portfolio of 10 properties.

In June the group said UK rents are still increasing as first-time buyers stick it out in let properties while they remain unable to get on the housing ladder.

Officials at the association say the private rented sector is “entirely counter-cyclical” as lets increase and provide property investors with the chance to still make money while having to hold on to homes which have fallen in value.

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  4. UK Government extends hand to investment property landlords
  5. Landlords holding onto investment property

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