Buy to let sector 'must be allowed to grow'

23 March 2010

Written by Gavin Elley

The buy to let industry must be encouraged to grow and the general election should not halt this.

According to the Association of Residential Letting Agents (ARLA), the private rented sector (PRS) is crucial to Britain's housing and the chancellor should adopt a business-focused approach to the industry.

Operations manager at ARLA Ian Potter said: "Landlords must [be] treated as the businesses they have now become and afford them the taxation criteria which will incentivise the improvement of stock and therefore the conditions which tenants live in."

Some 58 per cent of ARLA members said how the government helped the PRS expansion would be key to how the property sector performs in the future.

And buy to let owners would also be encouraged to invest if other aspects of the tax system were reviewed, according to the National Landlords Association (NLA).

Yesterday (March 22nd) the body explained that stamp duty land tax and capital gains tax were just two of the systems that could be adapted to help landlords.

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