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Is There a Rent Emergency?

12th October 2023 Rooms For Let

Is there a rent emergency due to ever increasing rents and serious lack of available accommodation? Charities in Greater Manchester have declared a Private Rent Emergency due to these and other issues.

Other problems such as a lack of security and poor conditions can leave families feeling vulnerable and, due to the lack of stock, don’t feel they can complain to the landlord for fear of eviction.

Charities fear there could be a rise in homelessness due to evictions or where rents are unaffordable and the tenants need to vacate but struggle to find alternative accommodation.

Whilst an emergency has been declared in Manchester by charities including Mustard Tree, Stepping Stone Projects, Shelter and The Booth Centre, the same issues are likely to affect many other regions of the UK. These charities have joined forces to appeal for reform in the private rented sector.

This emergency has come about due to massively increased rents in recent years alongside other well documented increases in the cost of living adding further pressure to family budgets.

Figures from Greater Manchester Combined Authority show a 12 per cent increase in rents for new tenancies. This percentage can be far higher across some regions.

So, what are Rent Campaigners Asking For?

• The Renters' Reform Bill, to be implemented as soon as possible.
• Give Councils more control over private rents to protect tenants from large rent increases
• An increase in Local Housing Allowance and to be index linked to inflation, among other points

The Renters Reform Bill

The Renters Reform Bill was introduced to parliament in May 2023. However, it is unclear when the changes are likely to take effect. The parliamentary process can take 18 months or longer to be entered in to law and it can take a further 6 months before the changes take effect. During the process of making a Bill law, changes can also be applied so it is difficult to envisage the final outcome at this stage.

The idea of the Renters Reform Bill is to protect tenants from eviction and ensure the property is up to a required standard. Also, to protect a landlord where there are grounds for eviction.

The Bill will end no fault evictions by abolishing Section 21 and so hopefully protect tenants and reduce the possibility and threat of homelessness.

However, whilst the intention is to protect tenants (and landlords to some extent), it could in fact have the opposite effect.

Whilst the majority of landlords comply with legal and safety standards, they shouldn’t see much of an impact, if any. They may even benefit from strengthening of certain rules.

However, change can always be a concern for many and landlords are no different. Changing the law, in addition to other issues such as rising interest rates and other associated costs, can see a drastic reduction to the bottom line. As landlords need to make a profit or for ‘accidental’ landlords at the very least break even, these changes can be a final straw.

Many landlords may be forced (or see fit) to sell a property or portfolio which would have a negative impact on the already low housing stock available to tenants and increase the risk of homelessness still further.

Only time will tell what these changes actually do achieve.

Reduce Your Rent Costs.

Whilst not ideal, particularly for a family, finding a room to rent can be a solution for individuals or couples looking to rent for the first time or move from an unaffordable property to a lower cost option. Rooms to rent are generally cheaper than renting a complete property and in most cases include the cost of bills in the monthly rental price.

If this is something you may wish to consider, please search our rooms to rent in your area or register as a tenant here. Registering and creating a profile can match you to available rooms and also enable you to receive instant notifications when new rooms become available.

Rent a Room in your Home

If you are a landlord or home owner looking to offer rooms to rent to prospective tenants, please register as a Landlord here. Once registered you can begin creating an advert for your rooms to rent. With a shortage of stock in many areas of the UK, you are bound to find the perfect tenant for your room.

Remember, when renting one room in your own home this has no tax implications up to £7,500.00 per year of rent under the governments Rent A Room Scheme.Is There a Rent Emergency. Finding a roo

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