Propertymark calls for tax support in upcoming Labour private rented sector review

Propertymark is advocating for the inclusion of tax support measures in the Labour Party’s forthcoming ‘Independent Review of the Private Rented Sector’.

The review, scheduled for release on today at the Local Government Association in London, has been developed under the guidance of Councillor Stephen Cowan of the London Borough of Hammersmith & Fulham.

The professional body has long supported the reversal of tax relief restrictions on mortgage interest costs introduced in 2015 by then-chancellor George Osborne.

According to Propertymark, these restrictions have pushed rents higher as landlords seek to mitigate increased costs.

Greg Tsuman, president of ARLA Propertymark, expressed his views on the review: “We welcome the independent review of the private rental sector and hope that lessons have been learned from past mistakes.

“We need to encourage responsible housing providers into the market instead of driving them away through ineffective taxation, which in turn causes rents to rise.

“We want tenants to have choice and security. And this will be possible only if there is a balanced marketplace with enough rental housing to meet growing demand.

“We need to improve enforcement to drive bad landlords out and provide support for good responsible housing providers.”

The review aims to transform the private rented sector, enhancing tenant choice, control, and security, and ensuring all homes are habitable.