14 Dec

Opportunities 'still exist' in the buy-to-let sector

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.ADNFCR-1222-ID-19511826-ADNFCR

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