With more than a quarter of those in their late thirties and early forties now renting, the Residential Landlords Association (RLA) is calling on the government to ensure the support is in place for landlords to meet the changes in the types of tenants in rented housing.
The research, based on figures from the annual Family Resources Survey, found that the number of middle-aged Britons still renting their homes from private landlords has doubled in the past decade, owed in part to rising house price, leaving many middle-age workers unable to afford a first home.
“With government data showing that rents are increasing by less than inflation and that average weekly rents are lower than weekly mortgage payments, it is not surprising that more older people who are finding it difficult to afford to buy a property are now renting,” said David Smith, policy director for the RLA.
The landlord association wants to see the government help the situation by doing more to enable landlords to offer longer tenancies.
Smith continued: “We recognise that older tenants, especially those with children, want security in rented housing. Although official statistics show that tenants have, on average, lived in their existing rented homes for almost four years, we have called on the government to do more to support the provision of longer tenancies.
“This includes addressing the problem that mortgage lenders often prevent landlords offering longer tenancies with an RLA survey showing that 44% of landlords have mortgage conditions that limit the maximum length of tenancy that can be offered.”
Smith points out that growth in the number of older tenants is one factor behind an increase in demand for rented housing at a time when an increasing number of landlords are not investing in more properties or are selling off homes because of government tax rises on the sector.
“This is making it more difficult in areas of high demand for tenants to find decent accommodation,” he added.
“The government is increasingly asking the private rented sector to house people in categories that it was never intended or structured to do. Ministers need to undertake a comprehensive review to ensure the support is in place for landlords to meet the changes in the types of tenants in rented housing.”
Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions.
If any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals, then the post may be deleted and the individual immediately banned from posting in future.
Please help us by reporting comments you consider to be unduly offensive so we can review and take action if necessary. Thank you.
.png)
Join the conversation
Jump to latest comment and add your reply
give me a way of getting bad non paying tenants out quickly and cheaply and i will happily give longer tenancies, i might even consider tenants on benefits, but we all know this will not happen, so my policy of 6 month tenancies and no benefit claimants will continue.
Totally agree. We have tenant did not pay rent for 7 months under a full management contract with a letting agent. It is all because the government "protect" the wrong tenants in a wrong way. Who protect us who are working hard for living and paying tax and bills on time??? Good people need more
human right nowadays even in doing our business. This is Free Market, let the market flows towards its own direction. Money, economy is like water, it will not need a guideline by a government, it finds its own way to prosper.
Please login to comment