The National Residential Landlords Association (NRLA) has urged the government to tackle growing costs in the PRS.
Earlier this week, research from MoneyFacts revealed that the conflict in the Middle East had led to landlords paying more for their mortgages.
Landlords are now paying an average of £1,100 more a year in mortgage repayments.
The NRLA is warning that landlords will continue to struggle as they also must meet new energy efficiency standards and costs under the Renters Rights Act.
As such, the association is now calling on the government to scrap next year’s income tax hike on the sector, reform the tax system to ensure better support around energy efficiency improvements and unfreeze housing benefit rates.
Additionally, the NRLA is pushing for costs of joining the PRS ombudsman — a requirement under the Renters Rights Act — as low as possible.
“It is simply stereotyped nonsense that every landlord can somehow absorb ever-increasing costs indefinitely,” said Ben Beadle, CEO at the NRLA.
“They can’t, and as a result, it’s tenants who will suffer most as rents continue to creep up.
“The government needs to take action to support renters and ensure a healthy, vibrant market.”
