Government should 'beware prescriptive approach to PRS'

Launching its election manifesto today, the BPF warned future governments to ‘beware an overly-prescriptive approach to rents or leases’ which could deter investment.

Ed Miliband has previously committed the Labour Party to introducing minimum PRS tenancies of three years and limiting rent rises.

‘To help meet this challenge [of a lack of affordable housing], sophisticated investors such as pension funds are building high quality, purpose-built homes for rent,’ it said.

‘Government should ensure that councils embrace the potential of build-to-rent, and beware an overly-prescriptive approach to rents or leases that could dissuade the largest, professional investors.’

The BPF manifesto also called for large mixed-use residential schemes to be treated as nationally important infrastructure, which would likely see it delivered more quickly and attract more government funding.

It also called for health, housing and social care budgets to be integrated to tackle the crisis in healthcare infrastructure.