Help landlords into Build to Rent
Speakers at the event hosted by Shawbrook Bank said the government is 'unnecessarily focusing' on larger institutional landlords and underestimates the vital role played by smaller private landlords.
Brokers said the Build to Rent scheme could encourage small landlords to buy up unsaleable properties and develop them into desirable rental units.
Property market analyst Kate Faulkner said: “There are two million landlords in the UK at the end of their tether; they look after their tenants, providing a legally and safely let property at a fair price.
"Yet many are getting a rough deal, with their service being treated as a ‘problem’ rather than a much needed solution.
“Build to Rent incentives for smaller landlords not just large, are a really obvious policy for the government to bring in.”
Under the government’s previous build-to-rent scheme, developers bid for funding to cover the development costs – refinancing or selling the scheme within one or two years of completion.
Brokers argued that is an area in which private and institutional landlords could complement each other well, because the types of property and location which they build or buy tend to be different.
Private landlords tend to be more focused on the regions of the country, it was said, while institutional investors may remain in London.
While smaller landlords are interested in redeveloping dilapidated properties, the larger companies may focus on building larger tranches of one type of unit such as student accommodation.