A recent report from the Chartered Institute of Housing and the Resolution Foundation has called for stricter enforcement of minimum standards in the private rental sector to try to stop rogue landlords taking advantage of vulnerable tenants, reports the BBC (http://www.bbc.co.uk/news/uk-28993899).
In their report the Chartered Institute of Housing and the Resolution Foundation said that these landlords should face stronger sanctions but those that provide an acceptable level of accommodation should be encourage to reinvest in their properties by offering them tax incentives. They claim that due to rapid house price rises many more people can no longer afford to buy a home and are increasingly reliant on the private rental sector, which has doubled over the past 15 years.
Grainia Long, chief executive of the Chartered Institute of Housing is cited in the BBC article as saying “These are people’s homes we are talking about,” adding “I want to see a situation where all landlords understand their obligations, meet their obligations, and are committed to professional standards.”
The BBC article also confirmed that the National Landlords Association has backed the recommendations in the report and agrees that unprincipled landlords should be forced out.
Richard Blanco from the National Landlords’ Association says in the BBC article that they welcome harsher actions against those landlords who exploit vulnerable tenants stating “Landlords run businesses and anything that encourages us to reinvest our profits or improve our properties is to be welcomed,” adding that “Rogue landlords ruin our reputation and we want to drive them out.”
With calls to provide tax incentives to landlords who invest in property improvements, don’t forget that making such improvements could result in you needing to review your sums insured. And as calls for tighter controls on rogue landlords are being voiced what can landlords do to protect themselves from ‘rogue’ tenants who damage, steal or simply don’t pay their rent? There are a number of steps a potential landlord can take and Click4quote.com has some helpful information in our Landlords Tips and Guides section regarding Tenant Referencing, Deposits, Rental Agreements and Property Inventories.
Check your landlord insurance to ensure you have suitable cover for issues such as theft or malicious damage by tenants and you could also consider rent recovery and rent guarantee insurance. Click4quote.com’s landlord insurance quotes offer these optional features - so why not get a quote online today