News from the Residential Property Investor, the bi-monthly magazine for RLA members other artilces from the October / November 03 issue RPI news archive

The news is...tenants can be ruthless too - October / November 2003

With a large sector of the population, especially first time buyers, now priced out of buying their own home, the Royal Institution of Chartered Surveyors is calling on the Government to encourage insurance and pension fund investment into the residential property market.

Nine out of every 10 rented properties are owned by private landlords rather than institutions, RICS points out. It wants this to change and corporate investment to be encouraged by allowing for creation of Real Estate Investment Trusts.

Mere creation of a suitable financial vehicle is hardly likely to be enough. What is needed is a change in attitude by the Government, giving acknowledgement to the economic and social worth of the private rented sector.

Institutional investment is not giving to flow when the perception is that in any debate about such matters as deposits or standards of conduct, landlords are always prejudged as being in the wrong.

The television company Granada Meridian, which is putting together a programme about the problems some landlords have with tenants (and it is inviting landlords to come forward with their experiences), was apparently surprised to discover that 'for so long the reputation for ruthlessness has always been laid at the side of the landlord or agent....but we've discovered that a landlord's loss can be greater!'

It is about time legislators took a more even handed view and came to similar conclusions.
 

other artilces from the October / November 03 issue

• The news is...tenants can be ruthless too
• Leaseholders gain right of challenge
• In brief
• Rental demand moves ahead
• Deposit action urged
• Summer leaves insurers with that sinking feeling
• HMO properties go missing
• Mould warning
• Remortgaging to boost returns