As MP's continue the revue into the Private Rented Sector continues to hear from the industry. Yesterday they were given data from the Valuation Office Agency that dismissed claims that rents were out of control from the lobby calling for the return of 'rent controls'.
The VOA data was the most extensive analysis of national rents ever undertaken and came up with a rental growth figure of just 2.8% nationally over the last year. Less than RPI inflation, and throwing a big bucket of water over the hot heads citing small pockets of areas where rents have shot up rapidly because of excessive demand.
Ian Fletcher, director of policy at the British Property Federation, also addressed the MPs saying:
“Policies that hurt investment in the private rented sector will not help people needing a home and just exacerbate the nation’s housing crisis. We hope the select committee will remember that rents reflect local housing markets and come out strongly in rejecting rent controls." adding "there is no scandal on rents in England.”
As regards the landlord mandatory licence debate he commented
“There has been a national register of landlords and agents in Scotland for some time, and compliance with it is poor, with the worst landlords continuing to be let off scot-free. We remain very willing to work with any party seeking to tackle bad practice, but only on suggestions that will be properly promoted and effectively enforced."
Landlord insurance - trusted providers