RLA argues ministers need to scrap the new homes tax for landlords

A new report being published  by the Residential Landlords Association’s (RLA) research exchange, PEARL, warns that the country faces a net loss of 133,000 homes for private rent over the next year. This follows Government figures showing that between March 2016 and March 2017 England saw a loss of 46,000 private rented homes.

Ministers need to scrap the tax on new homes which is punishing those in need of a home to rent, argues the UK’s leading landlord body.

The RLA Policy Director, David Smith, said:

“The demand for private rental homes shows no signs of slowing up, despite efforts to encourage home ownership. The government was always mistaken to place homes to own and to rent in opposition to each other rather than seeking to supply more homes in all tenures.

“Corporate investors are failing to provide the new homes to rent at the pace and scale we need. They are also poorly equipped to meet the housing needs of towns and rural areas.

“The vast majority of landlords are individuals and small businesses, providing good housing to their tenants and supporting local economies. We need to support and encourage them to provide the long term homes to rent needed.

“The government should use taxation more positively and not penalise landlords who are contributing to badly needed homes to rent.”

Read the news release from The RLA headlined ‘Scrap the new homes tax argues landlords’ in full click here