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Expert report calls for 10 key changes to sector
Carole Change, technical and compliance director, Leaders
A report by a leading property
expert is calling for 10 key changes
in the private rented sector (PRS) to
improve and safeguard the industry
for all involved.
The report is based on an independent
analysis of the market by Kate Faulkner,
Managing Director of consultancy
Designs on Property, with input from
key individuals and organisations in the
industry, including property specialist
leaders, self-regulating agent bodies
and private landlords.
Leaders’ Technical & Compliance
Director, Carole Charge, has decades of
experience in the industry and was a key
supporter of the report. “The report is
impartial and has looked at the PRS from
everyone’s angle – tenants, landlords and
agents – with the aim of improving it for all.
“The PRS is becoming increasingly
important in our housing market and
needs to meet the needs of a growing
tenant population. But this must be
achieved without overburdening the
sector with so much legislation and
control that it deters landlords and results
in a lack of stock in the future. That would
be detrimental to tenants who rely on the
PRS for their housing needs.”
The report provides a unique snapshot
of the current private rental sector, its
recent history and future potential.
“With the general election coming up,
the future of the rental market is a hot
political topic and this report will be an
invaluable resource for policy-makers
in the future,” said Ms Charge. “The
report finds that the sector works well
for most tenants, landlords and agents,
but that it does fail a proportion, mainly
with regards to the condition of rented
property and eviction.”
“Following this report, it is vital for
all those involved in the PRS to come
together to bring about the necessary
changes,” said Ms Charge.
Leaders has been at the forefront of
developing and improving the lettings
industry since its establishment by the
co-founder of ARLA in 1983 and the firm
fully supports the recommendations
made by the report.
The 10 changes recommended
in the report are:
• Compulsory client money protection
for all letting and managing agents
• A taxation system where rented
properties are treated as businesses,
encouraging landlords to invest
• A rental market free from controls
• A tick box on council tax forms to say a
property is rented
• Uniformity, so that all landlords and
letting agents must adhere to the same
standard within the self-regulated sector
• Existing and new regulations to be
enforced with a realistic budget, e.g.
penalty notices for tenant/landlord
offences, proceeds to be kept by the
local authority and re-invested in further
enforcement and education
• Cross Government, industry and
organisations agree to educate tenants
and landlords from one source
• Ensure the ‘how to rent’ guide is included
in the national and higher education
curriculum under the Personal Finance
Education Group and the NUS
• Mandatory Continuing Professional
Development (CPD) training for all
involved in the PRS (e.g. lenders, insurers,
landlords, letting agents, charities,
housing associations) on property
conditions and maintenance.
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