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The BPF has welcomed a new housing plan FROM the Mayor OF London which has called FOR measures TO encourage institutional investment TO CREATE a professionally managed AND wide ranging private rented sector, calling FOR the government TO look AT adopting it across the country.

Encouraging more property companies to develop and invest in the private rented sector would boost supply, improve service and provide quality professionally run accommodation for those unable to get on the private housing ladder, and who don't qualify FOR social housing.

The property industry has long called FOR the kind OF easily accessible private rented market enjoyed by consumers IN Germany AND the USA. The strategy admits that "too many landlords still provide poor value for money, inadequate maintenance and bad management". The Mayor offers tough love ? directing boroughs that the private rented sector should be used MORE TO discharge their homelessness duties, but ONLY WITH landlords that ARE accredited AND offering longer tenancies.

Ian Fletcher, director FOR residential policy, said: "What is often forgotten is that the private rented sector is bigger in London, than either housing association or council provision. The Mayor is therefore to be commended for recognising the importance of the sector and integrating it into his strategy ? a sharp contrast with the recent housing green paper, which was silent on the use and role of the private rented sector. We fully support the Mayor's call for a quality private rented sector and believe that cannot be achieved without private institutional investment. As the Mayor articulates people want the flexibility and affordability of renting - what Britain needs is therefore massive corporate investment to build homes to rent and give people the security, choice and quality they deserve."

by: Editor

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