Meg Hillier, MP for Hackney South and Shoreditch since May 2015 and current chair of the Public Accounts Committee, put a question to Chief Secretary to the Treasury, David Gauke, in the Commons to say that longer tenures and rent guarantees should be considered by the government.
Hiller suggested that the Treasury could encourage landlords to offer longer tenancies by potentially ‘using tax reliefs or other mechanisms the Treasury has in its armoury’.
Gauke’s response was evasive, and referred to the Chancellor’s announcement in November’s Autumn Statement that funds will be set aside for affordable house building.
The building of more genuinely affordable homes will go some way to helping those who are renting but who would like to own their own home.
Gauke did say, however, that ‘there is a need for flexibility in terms of tenure’ in order to help tenants.
The shortage of homes – especially affordable homes – in London is creating a generation of renters, with fewer and fewer would-be buyers unable to save enough for a deposit due to high rents.
For more information on this story, click on the link below:
Neil is the Operations Director at Assetgrove Lettings, London's Leading Rent Guarantee Company, providing Landlords with no voids, property maintenance, fee-free property management and stress-free service.
Landlords are advised that the government has released a new version of its How to Rent Guide which takes into account new legislation.
Landlords must comply with the Deregulation Act 2015 or face hefty fines and lose the ability to evict troublesome tenants. Here we explain the implications of The Act for landlords.
Landlords are responsible for ensuring that their properties are safe for tenants to occupy. So they must keep up to date with all the health and safety regulations for private rented properties.
