A property industry commentator has set out what he calls a plan of action to rejuvenate the buy to let sector.

Jonathan Rolande of the National Association of Property Buyers is urging the government to take urgent actions to stem what he describes as “soaring numbers of landlords quitting the sector … thus causing misery for those looking to find an affordable property to let.”

He says he recognises that government is walking a tightrope on the issue: if it makes buy to let too attractive then investors will flock to it and thus price out homebuyers, yet if it continues to make it difficult then more landlords exit and fewer replace them.  

Rolande says:  “Effective National Landlord Licensing would be a positive first step. The current system is a mess. 

“Some councils have licensing, while others don’t. A national scheme for landlords at a realistic rate would help to further professionalise the system. 

“The license itself would need to be displayed somewhere within the let property, and it would need to be renewed annually. It would contain information on rights and whistleblowing. 

“They could introduce a flat fee of around £350 a year on the owner (not the number of properties) which could be reduced if they use a managing agent. 

“This would generate around £900m a year to police both the sector and many of the woeful Housing Associations and Councils who neglect their legal obligations. Rogue landlords and inefficient landlords would be more open to scrutiny. And public trust would increase.

“The Government must rule out rent capping once and for all. It doesn’t work.

“We also need to offer enhanced tax relief to landlords who improve energy efficiency. 

“Rental properties are amongst the worst performers for efficiency, costing more to heat for the very people who can often afford it the least. In short, spend £500 on insulation – get tax relief as if you’d spent £1,000.

“Insecurity when letting is a common complaint currently made by many tenants. Abolishing fixed term tenancies aims to address that. I’d go further. We should encourage long-term lets with built-in reasonable rent increases annually. 

“Taper tax relief for landlords with higher rates for short term lets, reducing each year for long-term tenants. This encourages landlords to allow tenants to build a life in their home rather than just having a roof in the short term.

“Finally, can we please just build some council houses? This would make a huge difference and is something that should have happened a long time ago.”

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