Buy-to-let costs 'affecting landlords'
Thursday 10th September 2009High costs of renting out property are leading to landlords considering whether they have a future in the buy-to-let market, it has been suggested.
Mark Butterworth, a director at the Residential Landlords Association (RLA), said that the "raft" of legislation recently, coupled with paying housing allowance to tenants rather than homeowners, has resulted in this situation.
He added that licensing, energy performance certificates, tenancy deposits and other costs associated with the "regulatory regime" are having a detrimental effect on people looking to rent their properties.
"A few sales, as unwilling landlords sell up, and an expected net lowering in the number of properties available, will provide support for rent levels but will not guard against increasing arrears as unemployment rises," Mr Butterworth concluded.
The comments come after price comparison website moneysupermarket.com revealed that it had seen a 50 per cent rise in enquiries related to the buy-to-let market.
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