Landlord letting 'should be encouraged'

News Category: Industry News

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Individual landlords, who could improve their services through rent software, should be welcomed into the private-rented sector, an expert has said.

James Davis, founder and chief executive at online rental property portal upad, said that cost-effective solutions should be offered to both landlords and tenants to ensure the future growth of the lettings market.

He commented that France currently has a rental market which is twice the size of the UK's, while Germany's is three times bigger.

Additional and relevant services, such as help with property maintenance or working with companies in the social marketplace, should be offered within the lettings market to drive the growth of the sector, Mr Davis suggested.

"We need to attract landlords into the market place rather than push them away," he said.

Mr Davis added that the Rugg Report's recent study of the UK's private-rented sector recommended the government to encourage the entrance of new private landlords into the lettings market.

In the three months leading to the end of August 2008, Association of Residential Letting Agents figures show that average rent stood at £387 per week with a typical tenancy lasting 16.7 months.

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