Finance News

NALS calls for Budget to end confusion in the PRS

Ryan - March 8, 2017

With the industry bracing itself for today’s Budget, the National Approved Letting Scheme (NALS) has called for the Government to ‘end the confusion and uncertainty’ in the market.

The organisation has forwarded multiple suggestions that it believes will assist the Government to provide a Private Rental Sector that works for everyone.

Fees

The NALS feels that all services provided to tenants should be paid for by them and not the landlord. It feels that the proposed ban of on letting agents fees charged to tenants will only lead to a series of ‘inevitable consequences’ for consumers.

This include:

  • reduction in services
  • more self-managing landlords which will lower standards
  • rogue agents charging fees
  • increased closures of smaller letting agencies

As such, NALS has reaffirmed its call for a Competition and Markets Authority review into lettings fees. It also feels that all agents should be regulated.

NALS calls for Budget to end confusion in the PRS

NALS calls for Budget to end confusion in the PRS

Funding

What’s more, the NALS has urged the Government to provide more money to local authorities in order to fund more effective reinforcement and policing of the private rental sector.

A NALS statement said: ‘Increased legislation is meaningless if there are not sufficient means to check it is operating correctly.’[1]

‘Simply, we want to make the Private Rented Sector a better, fairer place for all. While the recent Government focus on the PRS and its importance is welcome, there has been no real action,’ said Isobel Thomson, chief executive of NALS.[1]

‘We believe there are some immediate key areas, which must be addressed if we are truly to help improve the sector. Industry is waiting, it’s time for Government to act now,’ she added.[1]

[1] https://www.lettingagenttoday.co.uk/breaking-news/2017/3/budget-2017-nals-wants-a-prs-for-all