A large estate agency has warned that rent controls would be a disaster for the UK, citing recent research in Ireland where large numbers of individual landlords have been quitting its private rental market, reducing supply and putting upward pressure on rents.
The research – which covers initiatives being proposed for the UK – found that constantly changing regulations and more punitive tax regimes has led to institutional landlords (such as banks and investment trusts) buying up properties and then putting up rents.
These larger landlords pay no tax, apart from on shareholder dividends.
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