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Thursday, September 10, 2015

Minister points to a corporate PRS future

The Housing Minister, Brandon Lewis has shared the Government's aims for the Private Rented Sector in a speech at the RESI 15 conference.

Chumming up with the big corporates at the conference held at the Celtic Manor Hotel, Lewis talked up the Government's £1 billion 'Build to Rent' scheme, saying -

" real progress has been made in Build to Rent since the last RESI conference. 15 schemes will create over 4,000 new homes; and there are more deals in the pipeline." 

The minister then went on to describe how the Government is looking to support further building of rented homes through housing guarantees, promising

 "£10 billion worth of investment in both private rented and affordable housing projects.The Affordable Housing Guarantee Scheme has already committed to guarantee over £1.5 billion of debt for more than 13,000 new affordable homes, across 41 borrowers. The Guarantee Scheme for the private rented sector is now open for business, operated by Venn Partners."

Rogue landlord crackdown

The Minister vision of a pro-corporate PRS future, was further compounded by a dig at individual landlords, saying
"we recently published a discussion document setting out proposals that include a blacklist of rogue landlords and letting agents, banning orders for the worst offenders, extending Rent Repayment Orders to cover poor property conditions and illegal eviction, and the introduction of civil penalties."

"We will crack down on rogue landlords and drive them out of business." 

What with the recent tax changes, added tiers of regulation and legislation it appears the Government is hoping to create a more corporate PRS future.

1 comment:

The_Maluka said...

"We will crack down on rogue landlords and drive them out of business."
Leaving the good landlords, who having been deprived of any effective way of collecting rent, also out of business.
The government are creating a lose-lose situation - fewer new homes to buy and less rental property.
The current situation with landlords reminds me of the Thatcher treatment of teachers. The teaching profession is still recovering from her onslaught and I predict that the rental market will be 20 or more years before it recovers from the present vitriolic attack.
I like working for myself and will not work for a big corporate, rather I will change my profession.