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Propertymark pushing for support for Grantham landlords

In a recent post by Propertymark is was good to see that they are lobbying government to support Grantham landlords.

With around an astonishing 170 different pieces of legislation that must be adhered to within the private rented sector, the everchanging landscape of compliance combined with the mounting financial pressures triggered by policies such as Section 24 of the Finance Act 2015 and, more recently, debt arrears caused by COVID-19 more must be done to support landlords. With responsibilities for landlords increasing, costs to meet these responsibilities including the stamp duty surcharge to purchase additional properties are also mounting which could be leading to many landlords selling their properties or diversifying into the short-term lets sector. Avoiding over-regulation across the UK should be a priority to keep existing landlords in the sector as well as attract new buy-to-let investment. 

Propertymark has consistently called for the enforcement of existing rules, which they believe should be the main focus for governments to target rogue landlords rather than adding more red tape that may alienate those who try their hardest to comply or have an interest in joining the sector. Since lockdown, renters and landlords whose finances have been affected cannot keep tenancies going without additional financial support. The £65 million funding for those in rental debt provides some support, however almost four million low-income households across the UK are in arrears with their household bills, yet this money will be targeted at those who are most at risk of homelessness, excluding a significant number of others from help. 

A programme of support would ensure Local Housing Allowance rates and Universal Credit are adequate and more effective so that landlords and letting agents would have more confidence to offer tenancies to claimants. Local councils would also be given adequate funding to drive up standards through enforcement.

It does appear that the government intends to continue to alienate the very people who are trying to help solve the housing problem in the UK. Pension pots are barely keeping up with inflation, thousands of houses are being taken out of the private sector into short term lets as landlords seek to secure their financial future. By all means stamp out rogue landlords, but the vast majority are honest, hard working people creating a secure financial future for themselves and need to be encouraged, not victimised.

There is no doubt that there needs to be more support for Grantham landlords in the private rental sector. If you are a landlord in the area looking for a solution then why not contact us to discuss what options are available to you.