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RICS: Penalisation of Landlords Must Stop

One of the UK’s largest property organisations has warned the government that they must cease using ‘punitive measures’ against landlords.

UK Needs to Stop Punitive Measures Against Landlords says RICS

One of the UK’s largest property organisations has warned the government that they must cease using ‘punitive measures’ against landlords.

The Royal Institution of Chartered Surveyors (RICS) issued the challenge to Theresa May’s government following a succession of changes to taxation for landlords in recent years.


Owners of rental properties in the UK have been subject to a raft of new policies over the last few years including a ban on lettings agent fees, the phasing out of tax relief for mortgages and the introduction of 3% Stamp Duty surcharge on property investments and second homes.


RICS argues that the government is simply forcing landlords to increase their rents in order to cover their costs, with estate agent Countrywide revealing that 36% of landlords have increased rents in January for new tenants – 27% more landlords than in the same period last year.


Commenting on the ongoing challenges facing landlords, Jeremy Blackburn, RICS Head of UK Policy, warned that ‘the detail on the ban on letting agent fees is yet to come, and along with any overt forcing of longer tenancies, could dampen investment in buy-to-let overall. The government must be careful about signalling both stop and go at the same time.’


However, Mr Blackburn said that the government had ‘listened to us on expanding supply not just pumping demand, and on giving institutionalised PRS much greater supply in this sector; we really need to turbo boost Build to Rent.’


Last week, Her Majesty’s Revenue and Customs (HMRC) revealed that landlords in the UK had not been deterred by taxation changes thus far, with a total of 62,800 properties eligible for the 3% Stamp Duty surcharge purchased in the final quarter of 2016.

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