14
Dec
Opportunities 'still exist' in the buy-to-let sector
Timely investors will be able to find good opportunities to invest
in the buy-to-let sector next year, according to the Association of
Residential Lettings Agents (ARLA).
The organisation predicted that the residential lettings market
will continue to stabilise in 2010 and anticipates a reduction in
property oversupply as landlords exit the market.
Ian Potter, operations manager at ARLA, pointed out that there will
be increased pressure on the industry to provide "good quality
rental properties".
"Increasing demand should have a positive effect on the private
rented sector, creating opportunities for new and existing
investors and driving standards up," he said.
ARLA also revealed that fewer tenants were struggling to make
rental payments towards the end of 2009, although it criticised the
government's Local Housing Allowance scheme for failing to improve
the problem.
On a positive note, ARLA welcomed the expected introduction of new
legislation to support tenants' rights if their landlord defaults
on mortgage payments.
Labour MP Dr Brian Iddon introduced the private member's bill at
the beginning of December. If it is passed, tenants will legally
receive at least two months' notice if their landlord's property is
to be repossessed, Channel 4 News reported.