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Private Landlords should shape up or face penalties, says watchdog

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Responsible landlords should be given tax exemptions and encouraged to improve their property portfolios, whilst at the same time bad landlords should be driven from the marketplace, said a housing watchdog recently.

With the number of privately rented homes doubling in the past 15 years and rising property values pricing many potential homeowners out of the market, private landlords are becoming the mainstay of the rental market.

The Chartered Institute of Housing and the Resolution Foundation have called for minimum standards in the private rental market and suggest bad landlords must face stricter sanctions. In a recent report, they also called for tax incentives for those performing well to encourage them to reinvest profits from rents in improving their properties.

The move has also been backed by the National Landlords' Association.

Grainia Long, Chief Executive of the Chartered Institute of Housing, said Landlords need to meet their obligations.

"I want to see a situation where all landlords understand their obligations, meet their obligations, and are committed to professional standards," she said.

Failing to keep abreast of the numerous changes affecting residential lettings can have expensive consequences for Landlords.

Advice for landlords

Pearson Solicitors offers specialist advice and assistance to residential Landlords on legal issues relating to the letting of residential properties including changes to the law and other regulatory and contractual obligations.

For advice on Landlord issues please contact Ian.Bowen@pearsonlegal.co.uk

Please note that the information and opinions contained in this article are not intended to be comprehensive, nor to provide legal advice. No responsibility for its accuracy or correctness is assumed by Pearson Solicitors and Financial Advisers Ltd or any of its members or employees. Professional legal advice should be obtained before taking, or refraining from taking, any action as a result of this article.

This blog was posted some time ago and its contents may now be out of date. For the latest legal position relating to these issues, get in touch with the author - or make an enquiry now.

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