Government Incentives Needed According to Landlords

The Association of Residential Lettings Agents (ARLA) has recently claimed that a new government incentive is in order to help landlords modernise homes.

Operations Manager, Ian Potter, stated that most private rental sector landlords are individuals or couples who can find upgrades and improvements daunting.

The number of properties available for rent grew by 17% in the last year, and thousands of home are now in need of modernisation.

The government has also recently recognised the important role that the private rented sector will have in the future of its housing strategy.

However, there was no recommendation given as to how this will be done. A survey of landlords stated that if they were to receive a form of tax relief, two thirds would choose to upgrade the properties.

The ARLA proposed in an earlier budget submission that attention should be given to incentives in the form of tax relief for landlords, and another scheme could also help in landlords struggling to meet the new efficiency targets.

The scheme is aimed at stimulating improvements in order to avoid tenants leaving in sub-standard houses. However, there has not yet been any signs of how this could be done, or where the government will find the money.

The survey carried out by the ARLA showed that a third of properties at the time of buying were in poor condition and in need of refurbishment.