Landlords need incentives to improve property
The government needs to offer incentives to landlords who want to improve their properties, one expert has recommended.
At present, any improvement cannot be offset against income tax, meaning there is little point in carrying out the work, noted editor at Property Hawk Chris Horne.
The result of this trend is that tenants are finding rental properties to be in a sub-standard condition, with landlords not very keen to make the necessary changes.
Mr Hawk explained: "The tax system is set up so that you can offset those capital costs against capital values, but those are only realised if the landlord was to ever sell the property."
Results from the latest Young Index show that more investor landlords are considering purchasing additional investment assets during the next 12 months.
This reverses the declining trend that has been seen since the end of 2009.
Published on: July 27, 2011
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