Government considering proposals to provide tax incentives for longer tenancies

Written by Allen Walkey on - Breaking News -

LANDLORDS are welcoming proposals being considered by the Government to provide financial incentives for those offering longer tenancies according to the Residential Landlords Association (RLA).

In its recentley launched consultation, the Government is proposing a number of options to implement a three year tenancy model addressing the demand for longer tenancies from the growing numbers of families and older people in the private rented market.

One of these options proposes ‘financial incentives’ as called for by the Residential Landlords Association (RLA), which the Government argues “could be quicker to implement” then mandatory three year agreements.

The report cites RLA research on the issue extensively, including that 63 per cent of landlords have said that tax relief would encourage them to offer a longer tenancy.

David Smith, Policy Director for the Residential Landlords Association, said:

“With landlords having faced a barrage of tax increases we believe that smart taxation, such as that being proposed today, would provide the longer term homes to rent many families and older people want.

“We would warn against making it a statutory requirement to introduce three year tenancies. Many tenants simply do not want to be tied to a property long term. It is vital that the market is able to provide the flexibility that many need in order to swiftly access new work and educational opportunities.”

Read the news release from RLA in full click here.

Author: Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.


Recent Popular Articles

New series on housing fraud

This week we see the start of a series of 5 programmes on BBC1 showing how frontline housing officers are dealing with local authority and

Government Minister to address RLA Future Renting Wales conference next week

Government Minister Justin Tomlinson MP will address the Residential Landlord Association’s (RLA) Future Renting Wales conference next week. The Minister for Family Support, Housing and Child Maintenance,

East of England to have 'affordable homes' boost thanks to merger

Good news for the East of England and would be home owners as the recent merger between Flagship Group and Victory Housing Trust is said

Property Bubble

The "Property Bubble" discussion is set to continue for some time, on the one side we have those analysts who see the UK property market

Belvoir Lettings Plc announces acquisition of Brook Financial Services Limited

BELVOIR LETTINGS PLC announced yesterday 13th July 2017: Acquisition of Brook Financial Services Limited, update on trading & Board changes. Belvoir Lettings plc  announced that