PwC used official figures to compare the profits made by private landlords to the benefits to the economy enabled by the sector. This included supply chain spending on letting agents and maintenance workers and the value of providing shelter and amenities to households.
The report, which was co-authored by the NRLA and Paragon Bank, concluded that the private rental sector contributes £45bn to the economy, and supports 390,000 jobs – mainly in real estate, construction, building maintenance, and landscaping.
Ben Beadle, of the NRLA, said: “What this report makes clear is how the private rented sector plays a pivotal role in providing high-quality employment, as well as desperately needed private rented accommodation, across the UK.
“These findings also underline how further growth could help the private rental sector to underpin a significant number of additional jobs over the coming years.”
However, private landlords have faced successive tax raids under the Conservatives, starting with the introduction of a 3pc stamp duty surcharge on second homes in 2016, and the tapered removal of mortgage debt relief from 2017.
The Government had previously proposed that rental properties met a C-rated energy efficiency standard by 2025, but these plans were scrapped last year following pressure from landlord MPs.
However, buy-to-let investors remain under pressure from high mortgage rates. The Bank of England is expected to hold the base rate at 5.25pc this week.
