Buy-to-let sector calls on government to provide tax relief.
The Association of Residential Letting Agents (ARLA) wants the government to give landlords a new form of tax relief, to help them to renovate their rental properties.
ARLA referred to a survey which found that 61 percent of residential landlords in Britain would be willing to invest in significant renovations, if they were offered tax relief as an initiative.
With the number of properties for rent growing by over 17% last year, more and more tenants are living in homes in need of modernisation, but with extrem financial pressures on landlords improvements are often not able to be carried out.
Ian Potter, who manages operations at ARLA, observed that it would be unrealistic to expect landlords to spend large amounts of money on renovations in the middle of a recession and in a time when property prices have fallen so dramatically.
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