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Rental market decline said to be down to 'uncertainty' over bill for private landlords

Are people reluctant to invest in the sector?

A shortage in the availability of homes available to rent on the Isle of Man is 'concerning' according to the chair of the Housing and Communities Board.

It's believed the number of properties on the market has been decreasing in recent years.

Landlords say it's because of the rising costs of maintaining them, the increase in rates and concerns over the implementation of the Landlord Registration (Private Housing) Act 2021.

MHK David Ashford has told Manx Radio it's creating a 'perfect storm':

'Uncertainty' around a private landlords' bill has caused a decline in the Isle of Man's rental market.

That's according to an Island landlord.

Mark Cooper has been a landlord here for 20 years:

Manx Radio has invited the Department of Infrastructure to respond.

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