Four point plan to kick start investment in private rented sector

Landlords and letting agents interested in progress of the governments recent initiative on the private rented sector may be interested in a recent announcement by the Chief Executive of the agnency responsible for making it happen. Sir Bob Kerslake this morning promised the Homes and Communities Agency would provide 'site specific' support to individual schemes and funds to kick start the private rented sector.

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The chief executive of the Homes and Communities Agency announced a four-point plan to initiate a private rented sector at Property Week's Resi 09 conference in Wales.

He said the HCA would:

• continue to endorse and support for the initiative which Kerslake said 'still needs championing in the government as regards certain tax changes';
• work to build a link between the private rented sector and the HCA's Kick Start and Public Land Initiatives;
• look to inject HCA land into various vehicles on an equity basis;
• provide rental guarantees or 'rental underwriting' on a scheme by scheme basis as appropriate.

'We think it will work best on a case by case basis rather than on a fund-wife basis,' said Kerslake.

'We will provide a menu of options based around a number of schemes and we will support a range of funds. We are trying to develop a commercial model and not a subsidy model but to get it going it does require some inter

We are still sceptical on wether anything will happen.

I guess as a responsible and no doubt highly paid public servant he has to make positive noises what ever his real view is.

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