Landlords shouldn’t must pay the 5% stamp responsibility surcharge when landlords deliver empty inventory again into use, the Nationwide Residential Landlords Affiliation argued.
NRLA was responding to authorities knowledge, which confirmed the variety of rental properties within the London dropped by 6% between 2023 and 2024.
On the similar time there are 38,000 long-term empty properties within the capital.
Ben Beadle, chief government of the Nationwide Residential Landlords Affiliation, mentioned: “Personal renters throughout London are going through the brunt of the housing disaster. The scarcity of properties to lease is a one-way avenue towards increased rents and even much less alternative for tenants.
“London wants extra of all forms of housing, and that has to incorporate properties for personal lease. It’s excessive time for insurance policies that help funding within the properties renters desperately want.”
The NRLA additionally strengthened earlier calls for for the courtroom system to be improved, in mild of the upcoming Part 21 ban.
It might probably take six months to a yr for a landlord to evict a tenant through a reliable possession declare and use a court-appointed bailiff.
As such, the chance of being a landlord is rising, pushing some out of the sector.
The owner affiliation additionally referred to as for a “monetary package deal” to help vitality effectivity upgrades.
