Election must not hold back private rented sector, says ARLA

The general election must not be allowed to detract from the growth of the private rented sector (PRS).

This is the view of the Association of Residential Letting Agents (ARLA), which said "prohibitive barriers to investment" such as stamp duty need to be reviewed.

Ian Potter, the organisation's operations manager, said: "Landlords must [be] treated as the businesses they have now become and afforded the taxation criteria which will incentivise the improvement of stock, and therefore the conditions which tenants live in."

ARLA has called on chancellor Alistair Darling ahead of tomorrow's (March 24th) Budget to adopt a "business-focused" approach to the PRS.

Data from a recently-published ARLA report revealed that 58 per cent of its members said the government's approach to expansion of the PRS will be the "key element" affecting the property sector next year.

At the beginning of this year the government's temporary stamp duty holiday ended, returning the threshold rate to £125,000 from £175,000.

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