ASSOCIATION OF RESIDENTIAL LETTING AGENTS The Private Rented Sector in 2025 David Cox, ARLA Managing...
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Transcript of ASSOCIATION OF RESIDENTIAL LETTING AGENTS The Private Rented Sector in 2025 David Cox, ARLA Managing...
WWW.ARLA.CO.UK
ASSOCIATION OF RESIDENTIAL LETTING AGENTS
The Private Rented Sector in 2025David Cox, ARLA Managing Director
WWW.ARLA.CO.UK
Rental prices in 2025:• Rents will increase:
– 2015 = £132pw– 2025 = £164pw– c.25% increase
• Supply will not meet demand:– 4x as many households as houses– Housing crisis will continue
• Depoliticise housing:– Sustained housebuilding programme– Regulatory certainty– Institutional Investors
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The Landscape to 2020:• No substantive change:
– Tinkering around the edges– Lots of little changes
• Will this solve the problem?– Under resourced and over
worked enforcing bodies– Housing Bill changes may go
some way
• Letting agent regulation:– Highly unlikely with current
Government
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The Corbyn Effect:• Election pledge revamp:– Mandatory 3 Year tenancies – Capping Rents– Ban on agency fees to tenants
• Leadership election policies:– Security of tenure– Strict rent control– Rents linked to earnings– Landlord regulation– Council house building programme
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Landlord Licensing:
• Wales and Scotland:– Existed in Scotland since 2006– In force in Wales soon– Influx of discretionary licensing
• A National Register of Landlords:– A bureaucratic nightmare;– Or a consistent approach?
• London Rental Standard:– This model can work– Make it mandatory
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Longer Term Tenancies: • Tenancy Reform:
– Will 3-year contracts be the norm?– Does Section 21 have a future?
• Wales and Scotland:– Complete overhaul of Tenancy Law– The removal of Section 21
• A European Model?– Should we look to Germany?– France’s eviction laws– Lisbon: Crippled by rent control
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Property Conditions & Rent Control:
• What is the priority:– Good quality homes– Or cheap properties
• Market Economics:– House prices are unlikely to reduce– Higher standards increase costs– Rent Control reduces income
• Learn the lessons of the past:– Or history will repeat itself!
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Tax Changes:• Autumn Statement 2014:
– SDLT Changes
• Finance Bill 2015:– Mortgage Interest Relief– Wear and Tear Allowance
• Changes to Buy-to-Let– Linked BTL to earnings?
• Future Tax Changes:– Capital Gains Tax Relief– Taper Relief– Treat landlords as businesses
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Look for the Logo:
You will receive a professional service from a qualified professional but if things go wrong you will get you
money back
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For more Information:
Association of Residential Letting Agents (ARLA)Arbon House6 Tournament CourtEdgehill DriveWarwickCV34 6LG
Email: [email protected]