Rental sector responds to Treasury announcement
The Treasury's consultation into investment in the private rental sector this week has been welcomed by one group, it is reported.
Responding to the report Investment In The UK Private Rented Sector, Ian Potter, operations manager of the Association of Residential Letting Agents, said he was pleased the government was taking heed of recommendations to change stamp duty legislation as it has a "prohibitive" impact on the industry.
"A change to the structure of stamp duty would encourage vital investment into bulk portfolios - helping a part of the housing sector that is going to be pivotal to that sector's recovery," he added.
However, Mr Potter noted actions would be more important than words.
Britons looking for flats to rent in Shoreditch or another part of London may find such amendments see them enjoying a greater choice of potential homes to look at.
The government's planned rental package measures include setting up a hotline which will offer free advice to private tenants and a website where Landlords can be compared.
However, the National Association of Landlords claimed it was opposed to such a website as it would require intensive management and scrutiny and so be "unworkable and ineffective".
Written by Charles Mackay
Published 4th February, 2010
© 2010 Estates IT Limited
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