Landlords 'have the knowledge to meet demands'

News Category: Industry News

This article was brought to you by Rentman the premium rent management software

Individual landlords in the private rented sector (PRS) have the "knowledge and expertise" to meet the demands of their local communities.

At least that is the view of Nigel Terrington, chief executive of professional landlord mortgage provider Paragon Group.

He said that local tenant demand is the driving force behind landlords' investment decisions.

Mr Terrington's comments come after the government suggested that institutional investment is the vehicle that will help the PRS' supply needs grow.

An announcement by the Local Communities and Government department - in reponse to October 2008's Rugg Review - indicated that this is one new measure that could be brought in to boost the sector.

Institutional investment is not the answer, according to the Paragon Group chief, who added that "the foundations for the growth of the market are already in place but those foundations can't be built on until finance is made available to landlords".

How to stay legally compliant with letting agency software