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Ministers welcome proposals to boost private rented sector

Posted: 14th September 2012   In: Commercial Property, Residential Conveyancing

Government ministers have welcomed proposals to boost the private rented sector by easing planning restrictions and encouraging investment.

Housing Minister Grant Shapps says the report compiled by Sir Adrian Montague provides a blueprint for building more good quality homes.

Most of the private sector in the UK is managed by individual landlords. This is likely to remain the case but Sir Adrian’s report says there is potential for much greater investment in larger developments.

He puts forward a number of recommendations to streamline the planning system and to help speed up the timescale for building privately rented homes.

The main proposals are:

Housing Minister Grant Shapps said: “We're determined to encourage greater investment in the build-to-let market and boost the country's Private Rented Sector, which plays an integral role in meeting the nation's housing needs and aspirations.
"A major part of this is to attract and encourage new players to the market, while at the same time avoiding the excessive regulation that would force up rents and reduce choice for tenants.
"Sir Adrian Montague's findings offer both a blueprint for achieving this goal, and for setting the standards of accommodation that people should expect. I will be considering his recommendations very carefully."
The Government will put forward a formal response to the proposals later this year. We shall keep clients informed of developments.
Please contact Eugene Pritchard or Hugh Beeley if you would like legal advice about commercial property and development issues.