New report suggests companies could deliver large-scale rental accommodation
Published: 29-Feb-2008
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GLA Economics and the British Property Federation (BPF) published a new report yesterday (Thursday, February 28th) which examined the potential benefits of implementing new planning guidance for large-scale rental accommodation.
The report outlines the possibility of a professional rented sector in which companies, in the style of brands such as Hertz and Virgin, could deliver rental properties for families and long-term tenants.
According to the BPF, companies could offer consumers a service much like car and television rental.
Ian Fletcher, BPF residential director, commented: "Statistics bear out why there is such tremendous demand for rental property to occupy. Nationally, the cost of private renting is typically at least 30 per cent cheaper than buying an equivalent property.
"The private rented sector is therefore delivering 'affordable' housing for those unable to access owner occupation or social renting, with 70 per cent of private tenants unable to buy their own home.
"It is therefore perhaps not surprising that more households have been housed in the private rented sector this millennium than in social renting or owner-occupation."
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