New planning orders will have "devastating" impact
Property professionals
1st April 2010
The impact of new planning orders being introduced in April will be "devastating" one expert claims.
According to chairman of the Residential Landlords Association (RLA) Alan Ward, the proposed legislation will have a detrimental effect on the rental market.
Mr Ward asserts the buy-to-let sector as a whole will suffer as the government attempts to crack down on high concentrations of occupants in shared rental homes.
"If the Planning Use Classes Order takes effect in April, the rental market will be wrecked for landlords wanting to offer property to sharers like nurses, young professionals and students," he declares.
The RLA official added the move has been made in order to placate "the Nimbys [not-in-my-backyard]".
Landlords seeking insurance for Buildings could be interested to learn figures from LSL Property Services indicated recently buy-to-let yields rose in February year-on-year by 10.6 per cent to a two year high and the average rent received over the same period was up by 3.2 per cent.
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