Housing White Paper: “The private rented sector is finally coming of age”
Our Managing Director, Helen Kings on the Government's Housing White Paper and what it means for the private rented sector:
“With 4.3 million people relying on the private rented sector (PRS), it increasingly caters for all, not just generation rent.
“The PRS is finally coming of age. The Housing White Paper is serious recognition from Government that the sector is a vital part of providing homes - not just a stepping-stone on the way to owner occupation.
“Clearly, Government sees institutional and corporate investment as leading the change in the private rented sector. Supporting build to rent will create a healthy market, professionally managed, and offering the best tenant experience.
“Finally we’re seeing a maturing, professional private rented sector, but we mustn’t ignore or forget existing rental properties, and the role good private landlords already play in the market.
“While it may be headline grabbing, offering longer tenancies isn’t something new. When managed effectively, they benefit our customers, and offer investors improved rates of return. However, longer tenancies don’t suit all customers, and it is important to have the flexibility to offer varying tenancy lengths that cater for the whole market.
“We recognise that affordable rents are vital in providing homes for those who may otherwise be excluded from the housing market. They provide options for those caught between market lets and social housing, and can help the viability of new schemes under consideration, which all goes toward providing more housing.
“Ultimately the measures in the White Paper are sensible. Touchstone is already providing management services that offer longer tenancies for many of its clients. Where appropriate we’ve always promoted these tenancies for the benefit of both our customers and investors.
“As professional property managers in the sector, we have a responsibility to make the sector work and we are keen to do so. Our experience means we really understand the sector, and while Government support is very welcome, what we’ll continue to focus on is ensuring that our customers have easy access to the sector, with a safe, professional experience of renting.”