The rental market has been in need of review for a while and establishing standards that help both tenants and landlords alike. This has become ever more important as the UK trends further towards ‘generation rent’ and guidelines are required by which the market is regulated. Well that is the start of the story, and the government has certainly picked up this challenge, but have they been too heavy-handed?
Presently the headwinds in the property market, particularly to the private rental sector the latest regulation changes and tax laws have created a headache for prospective investors and left existing landlords nervous. In the last few months alone there has been a raft of changes that need to be looked at carefully, as ignoring them can lead to heavy fines. For example, in the last 2 months, there is the new Tenant Fees ban, the fit for Human Habitation Act and the CMPS scheme to name but a few. We will go through these in due course, but for the moment let’s concentrate on what else the Government is doing to hinder this market.
So not only is the Government passing regulation and increasing the taxes in this sector they are also creating a major headache in the form of Brexit. I apologise for bringing this subject up, and it has been discussed at length many times before, but this is still a major stumbling block to investors entering the market, and although you can’t squarely lay this on the Government’s door, you can blame them for the indecision and the situation we presently find ourselves in.
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