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Move to improve home rental welcomed

Sweeping reforms to buy to let are set to be recommended in a report by the Law Commission today broadly supported by the British Property Federation.

To listen to a BBC Radio 5 Live interview with the BPF click on the MP3 link at the bottom of this page. The Law Commission’s press release is attached.

The BPF believes that there is no shortage of regulation already in the private rented sector, and that what this sector needs is investment not more under-resourced regulation.

Ian Fletcher, residential director, said:

”The British Property Federation broadly welcomes the Law Commission’s report because we want a better standard of rental housing for people that would encourage greater investment and spur on more build to let development.

“The main problem with improving standards is a shortage of funding for enforcement. Local councils just do not have sufficient staffing or money, something which simply shifting the function to other bodies will not resolve. We oppose enforced self-regulation, because it will only ever make ‘good’ landlords better and ‘bad’ landlords worse.

“The good – who are traceable - will generally always comply, while the bad ones will always stay off the radar.

“We support voluntary accreditation, backed up by tax incentives, to rapidly increase its use and we advocate having a trade body led accreditation schemes and therefore maintain brand confidence. We are equally supportive of the suggested MOT for rental accommodation, providing it simplifies landlords’ existing commitments and therefore the suggested pilot is a good way forward.

“The rental market has the potential to provide truly affordable, long term accommodation for millions. The BPF wants to see tenants treated as customers and with the right balance of legislation, investment and political will, this should be a possibility.”

For more information on Thursday contact Andrew Panting at the BPF on 020 7828 0111