Private Rented Sector – independent report by Kate Faulkner
An independent report on the private rented sector (PRS) was released last week by Kate Faulkner of Designs on Property, which looks at the PRS from all perspectives. Supported by leading members of the industry* the analysis looks at the impact of proposed housing polices on the PRS, the wider roles and responsibilities of others involved in the rental process and how the PRS needs to change to meet the needs of an increasing tenant population.
The report calls for ten changes that would solve some of the key issues that face the industry and make for an improved PRS, driven by excellence, enforcement and education:
- Fifteen clear, easy to understand checks, that a rental property is legally let, especially regarding electrical checks.
- 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.
- All landlords and letting agents must adhere to the same standard within the self-regulated sector, e.g. place the PRS code on the statute books and ensure all letting agents sign up to the Landlord Rental Standard.
- 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 Pfeg and NUS.
- Mandatory CPD training for all involved in the PRS (e.g. lenders, insurers, landlords, letting agents, charities, housing associations) on property conditions and maintenance, e.g. working with organisations such as Peter Cox and CFOA.
For further information please contact Kate Faulkner on: 07974 750 562 or firstname.lastname@example.org
* ARLA, British Property Federation, RICS, The Property Ombudsman Ltd (TPO), Belvoir, Chestertons, Concentric Lettings, Countrywide, Leaders, Knight Frank, Savills and Your Move all support The Private Rented Sector 360 Degrees report by Kate Faulkner