5 Feb

Private rented sector 'absolutely essential' for British economy

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.ADNFCR-1222-ID-19600922-ADNFCR

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