Asset managers should engage with government to create a “fairer” U.K. rental system

Aberdeen Standard Investments has said that it is vital that asset managers engage with the U.K. government in order to shape a fairer rental system that reassures tenants and has a positive impact for “well-meaning” landlords.

The manager has argued that the U.K. is assessing its rental housing policies on the back of thinking that is “nearly half a century old”. It has also warned that any government proposals to introduce systematic rent reduction, caps, or the decoupling of new lettings from local market values would fundamentally undermine the country’s residential sector and lead to a reduction in both the number and quality of properties available to rent.

Instead, Aberdeen would like to see greater discussion around open-ended tenancies, which it says can only exist if there is some predictability in what a tenant is expected to pay in the future. The introduction of open-ended, predictable tenancies would encourage tenants to stay longer and have a p