Alliance will fight for landlords' rights
An 'industry alliance’ assembled by the Nationwide Building Society to support private landlords will monitor the private rented sector's health, discuss issues of mutual concern and provide policy suggestions to the Government.
The Nationwide Partnership Board has received the backing of the Association of Residential Letting Agents, Countrywide, the National Landlords Association, the charitable Nationwide Foundation and the charity Shelter.
Joe Garner, Chief Executive of Nationwide Building Society, said: "With a Draft Bill on letting agent fees already in progress, and greater powers for local councils beginning to take effect, it is clear that reappraising the private rental sector is already firmly on the Government’s agenda and so we look forward to working with the housing minister to help influence a future that works for all.
"By coming together we can help deliver somewhere decent for everyone to call home."
Meanwhile, new research from Nationwide shows that landlords are struggling to keep up with multiple tax and regulatory changes.
A YouGov survey of 1,000 landlords found that many landlords have protected their tenants from the financial impact of the changes, with almost 29 per cent not increasing their rent.
But the survey also shows that 44 per cent are now considering raising rents while 10 per cent say they will reduce the amount they spend on property maintenance.
Some 14 per cent intend to start managing the property themselves, rather than using an agent and 22 per cent are even considering selling their rental property.
Nationwide says this proves that changes aimed at levelling the playing field between owner-occupiers and landlords 'risk reducing choice and value in the private rented sector, affecting those who live in Britain’s 5.3m privately rented homes.'