25-04-2008
Professional rental system could improve quality of market
News by Adfero for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
The introduction of a large scale professional rental system in the UK would help first-time buyers who are increasingly being price out of the market, a major trade body has claimed.
Professional lets are currently very popular among the student sector, with a number of small and large landlord companies across the country.
However, according to the Chartered Institute of Housing (CIH), a similar model on a more wide-spread scale - as has been introduced in the US and Germany - would help solve current affordability problems.
Abigail Davies, head of policy at the CIH, said: "[We have] seen the rise in private provision of student accommodation, which are quite high quality, modern, fashionable looking flats with decent security and wireless internet throughout the building."
Calls for a professional rental sector have also been heard from the British Property Federation.