With the Budget today, Chestertons has called for a number of measures to improve the housing market, including the introduction of compulsory licensing for all sales, letting and managing agents.
The firm is also asking for Client Money Protection insurance to be made mandatory.
The firm is calling for a separate use class to be created for the private rented sector, with tax concessions to encourage institutional investment.
Chestertons also wants to see a number of other measures, including reform of council tax and tax breaks for pensioners, including those in residential care.
Meanwhile, speculation is growing that the Tories plan to allow parents to leave their homes, up to £1m, to children without Inheritance Tax.
However, whether this would feature in today’s Budget or be a manifesto policy is uncertain.
Comments (4)
The trouble is – WHO WOULD LICENCE??
Better than licencing may be greater policing odf CPRs and BPRs
I agree totally with this, and if they license us, as they should, they could regulate the admin fees, rather than ban them. The left wing march against the PRS and our business as a whole is really quite shocking in an un-researched vote grabbing tactical kind of way.
Yes I agree no unqualified person should be allowed to set up in sales or lettings, it is madness.
Couldn’t agree more, agents should not be allowed to handle the public’s largest lifetime investments without qualification, it’s shocking. As for rentals, it requires a massive understanding of the law to finalise paperwork, unlike sales it’s not passed to solicitors to close.