Buy-to-let owners set to incur fail-to-let penalties

Article

23 May, 2008

A warning alarm has been sounded to all buy-to-let owners who allow their properties to remain empty for significant periods of time.

The Communities and Local Government Select Committee has put forward proposals which, if implemented, would see landlords charged with financial penalties if they fail to maximize the letting of their properties.

The measures are a marked response to the lack of available social housing across the country.

It is hoped that a sustained effort to discourage landlords from allowing their properties to remain unoccupied will eventually free up 50,000 new homes which could ease the demand for affordable social housing.

The proposals are due to be considered by Members of Parliament.

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