Sedgefield MP Phil Wilson put forward legislation, saying regulation was needed to ‘professionalise’ the buy-to-let sector amid claims that the rental market is set to grow to around 20 per cent the country’s housing stock by 2020.
Mr Wilson said a compulsory register would ensure that landlords maintain their homes properly and help prevent cases of anti-social behaviour. He said if a register of landlords existed, those who fail to meet certain standards could be struck off.
But Graham Kinnear, Managing Director at Landlord Assist, is concerned that further regulation of the market could impact the supply of rental property and the number of people who may otherwise enter the market.
He said:
“It is clear that there is a shortage of rental property and that this shortage is to become even more acute given the continual increase in tenant demand that we are seeing. We think the market should be encouraged to expand to cater for this demand and regulation is not the answer.
“There is already a raft of regulation in terms of the safety of tenants and the standard to which a rental property should be kept. We don’t want further regulation – instead we want landlords to expand their portfolios and more people to enter the sector to help achieve a demand and supply equilibrium.”
Mr Wilson said a national register was needed to help tackle rogue landlords and help determine the level of private lets in a given area. In particular he criticised ‘amateur landlords’ for lacking the experience and knowledge needed for renting.
But Stephen Parry, Commercial Director at Landlord Assist says:
“We believe that firms like ourselves provide landlords and letting agents with the knowledge and skills required to operate a successful buy-to-let portfolio. There is nothing to suggest that increased regulation will result in increased standards, quite the opposite in fact.
"A national register of landlords will simply penalise good landlords with more administration costs and drive the worst landlords under the radar.”
