The National Residential Landlords Association (NRLA) recently called for increased tax relief for landlords in order to help alleviate the current rental supply shortage. The NRLA believes that this tax relief could help to encourage more landlords to enter the rental market and provide much-needed housing for tenants.
The rental market has been facing a severe shortage of available housing for some time now, with demand far outstripping supply. This is due to a number of factors, including an increase in the number of people looking to rent, and a decrease in the number of available properties. This has led to an increase in rental prices, making it increasingly difficult for tenants to find affordable housing.
The NRLA believes that one way to help alleviate this shortage is to offer landlords tax relief. This could include reducing the amount of tax that landlords have to pay on their rental income, or offering tax credits for landlords who are willing to rent out their properties at lower rates. These measures could help to encourage more landlords to enter the rental market, providing much-needed housing for tenants.
The NRLA also believes that increased tax relief could help to make renting more attractive to potential landlords. This could be done by reducing the amount of tax that landlords have to pay on their rental income, or offering tax credits for landlords who are willing to rent out their properties at lower rates. This could help to make renting more attractive to potential landlords, and could help to increase the number of available rental properties.
The NRLA is calling on the government to implement these measures as soon as possible in order to help alleviate the current rental supply shortage. By offering increased tax relief for landlords, the NRLA believes that more landlords will be encouraged to enter the rental market, providing much-needed housing for tenants. This could help to reduce rental prices and make it easier for tenants to find affordable housing.