Industry News Rhianna Abrey 18/03/2022

NRLA urges Welsh Government to reject rent controls in new shadow white paper

Today, in its Shadow Wales White Paper, the National Residential Landlords Association (NRLA) sets the future direction necessary for a fairer, more inclusive PRS in Wales.

The Shadow White Paper, entitled “The Future of Private Renting in Wales”, sets out the NRLA’s proposals including an analysis of why the introduction of rent controls would have a destructive impact on the Welsh private rented sector (PRS).

Supporting the White Paper, the NRLA commissioned an independent report by Capital Economics which suggests that Wales would need an average of just under 9,000 new private rented properties to meet housing targets.

Despite this, the policies of Welsh Government continue to dissuade investment. Only 11 per cent of landlords polled by NRLA said they planned to increase the number of properties they let out whilst far more, 37 per cent, plan to cut the number they rent out.

Ben Beadle, Chief Executive of the National Residential Landlords Association, said:

“Our White Paper sets out what must be done in Wales to build a fairer, more inclusive PRS for both tenants and landlords and the damage that outmoded notions of rent control could have on the market.  

“Ultimately, with affordability and supply issues continuing to dog the Welsh private rented sector, rent controls would exacerbate these ongoing problems and fail to provide a solution fit for the twenty-first century.

“Rather than focus on rents, the Welsh Government must target costs, making the provision of homes more affordable.

“A good start would be removing the controversial 4% Land Transaction Levy on the purchase of additional homes which disincentivises investment in much needed homes.”

If you would like to read the full report, click here for more details.

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  • #PRS
  • #wales
  • #rentcontrols