A housing association has made the controversial move into the buy-to-let sector, and will be renting out homes at normal commercial rates.
Sovereign Housing Association has bought 84 homes in Bristol, Swindon and Gloucester, which it now lets out.
The association, which has 33,000 homes normally let at affordable rates, acquired the 34 homes last year, with 50 added more recently.
James Gibson, regional development director at Sovereign, said: “We identified a gap in the market and these homes have been let very quickly, due to the increasing demand in the private rented market and the high quality of the units we purchased.”
He said he expected the association to make more similar purchases as an increasing number of tenants move into the private rented sector.
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