The Lettings Industry Council (TLIC) released a new PRS report in June. TLIC was formed by industry stakeholders from across the PRS, who have united to work through some of the expected changes introduced through the Renter’s Reform Bill.
Forming six working groups to look at different subjects, it produced the report to help the Government understand what can work in practice and to encourage a vibrant PRS that works for all.
Theresa Wallace, chair at The Lettings Industry Council, says: “Landlords have been exiting the market for various reasons, many due to the increased legislation introduced piecemeal on an annual basis which, so far, has not solved the issues in the sector.
“Those issues include some sub-standard properties, rogue and naïve landlords, untrained agents and a minefield of legislation confusing even diligent landlords due to the complexities surrounding providing a rental home.
“Each year, in an attempt to combat some of these issues, more legislation is introduced but, so far, this has just compounded the problems further and the raft of unaligned legislation, which often comes at a financial cost to the landlord, is a core reason given for why landlords are exiting the sector, leaving a shortfall of available rental properties.