Letting agents advised to take 'business-like approach'

News Category: Industry News

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Landlords and letting agents need to adopt a more business-like approach to the private rented sector in 2009, an expert has said.

Debbie Walsh, head of public policy and communications at Rics West Midlands, told the Birmingham Post that the rental sector needs to be seen as a place of choice rather than a last resort for those who cannot sell in the current climate.

Ms Walsh added that as the economy suffers in the new year more people opt for renting rather than trying to sell their homes.

She continued: "Key considerations need to include protecting both landlords and tenants against rogue letting agents and introducing a more proactive, and therefore effective, enforcement of tenancy deposit protection."

Reversing legislation on tax rates for empty business premises introduced in April would also encourage trade and boost the number of start-ups to benefit both commercial property landlords and tenants, Ms Walsh added.

Her comments come after Arla operations manager Ian Potter recently predicted that more landlords will purchase properties in 2009 as house prices continue to fall, with investors viewing such purchases as a "solid long-term investment".

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