NRLA backs bill that seeks to balance tenant and landlord needs
Landlords opting to sell their properties have emerged as a significant threat to renters, with government statistics indicating that nearly half of the households needing council support to avoid homelessness were affected by such sales in late 2023.
According to official data, 45% of those assisted were in situations where landlords intended to sell their properties, a figure that significantly outstrips other causes for the termination of rental agreements. For instance, only half as many cases were related to landlords re-letting their properties.
This information arrives at a critical moment as the UK Parliament's House of Lords prepares to discuss the Renters (Reform) Bill, which aims to balance the interests of both tenants and landlords.
Further highlighting the challenges in the housing sector, a survey conducted by the National Residential Landlords Association (NRLA) revealed a robust demand for rental properties, with 83% of landlords describing it as ‘strong’.
However, the survey also showed a worrying trend: 31% of landlords are considering reducing their rental offerings, while a mere 9% are looking to expand their portfolios.
The NRLA’s findings align with data from property website Rightmove, which noted that an additional 50,000 rental properties are required to restore the market to its pre-pandemic condition.
“Landlords selling up is the single biggest challenge renters face,” said Ben Beadle, NRLA chief executive. “The only answer is to ensure responsible landlords have the confidence to stay in the market and sustain tenancies.
“As Peers debate the Renters (Reform) Bill, it is vital that it works for landlords as well as tenants. As it stands, it would achieve this balance. We are calling on Peers to support the bill to give the sector certainty about the future. More broadly, all parties need to accept widespread calls for policies to boost supply in the private rented sector.”
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