5
Feb
Private rented sector 'absolutely essential' for British economy
The private rented sector and buy-to-let landlords are essential to
support the health of the UK economy, it has been claimed.
Mark Garner, founder of LettingZone.com, explained that the
government needs to support landlords who own rental properties
because the economy is reliant on the market.
"The private rented sector is absolutely essential to a healthy
economy as it allows people to move and find jobs while not
committing to all the purchase costs," he asserted.
Mr Garner also called for the government to offer more help to
landlords with non-paying tenants by speeding up the eviction
process.
He explained that renters who do not pay their landlords present a
"major block" to investment in the sector because the owner of the
property must continue to pay the mortgage whether rent is
collected or not.
In January, the British Property Foundation claimed that local
authorities are struggling to meet the housing needs of the
population and claimed that private landlords will need to fill the
gap.
The organisation stressed that the sector needs more political
support if it is to boost the housing market.