One in five households will rent their homes by 2018

Maria Lucas, managing director of Let Lucas Rental Specialists believes the number of people living in the private rented sector will continue to grow due to three major drivers.

They are: population growth and more new households; imbalances between demand and supply inflating the price of housing; and the cost of living slowing the ability of people to save to buy.

Maria Lucas said: “A supply of housing to both rent and buy is critical for businesses trying to recruit and retain staff. Currently the rental market is dominated by small scale ownership and management, with larger landlords owning ten or more properties making up only one per cent of the market.

“To meet the increasing demand for rental homes new sources of private finance are needed.”

Amongst others, the CBI is calling for:

n Increased roll out of the Private Rented Sector Guarantee Scheme.

n The Government to use the success of the Build to Rent Fund to showcase how investments in rental homes can generate attractive returns.

n Regulation that strikes the right balance between protecting tenants and not overburdening landlords and deterring investors.

Letting is a complex, specialist field incorporating more than 50 Acts of Parliament and 70 sets of regulations which landlords should be aware of.

Contact Maria Lucas at Let Lucas Rental Specialists for consultation or guidance on 01926 350007.