x
By using this website, you agree to our use of cookies to enhance your experience.
Graham Awards

TODAY'S OTHER NEWS

All change: worried tenants rethinking how and where they want to live

Around half of renters are worried about financial security thanks to Coronavirus - and many are concerned their landlords will sell up.

Aldermore Bank, a specialist buy to let lender, has canvassed the opinions of 2,000 private tenants with precisely 50 per cent saying they are uncertain about how they will cope with rent increases, their home being sold, or becoming unemployed.

This pressure is felt significantly among 18 to 34 year olds, with two in three admitting they are worried about their housing situation. Additionally, a further 20 per cent of this age group have seen rent costs increase in their area since March. 

Advertisement

The bank says the situation has become still more difficult for this age group with nearly one third being placed on furlough or losing employment since March, significantly higher than the 22 per cent average across all renters.

The impact of lockdown has triggered many renters to rethink their living arrangements, the survey suggests. 

One in four are now looking to buy a property and are actively saving for a deposit, with a fifth motivated to move into different rental accommodation.

The main things that renters desire that they do not currently have in their property were a bigger kitchen (32 per cent), more living space (27 per cent), a more energy-efficient home (25 per cent) and a garden (24 per cent).

When asked about their future plans, one in three aim to remain in their property over the next five years and one in five plan to move to a different rental property. 

Owner occupation was a goal for almost a third of renters in Northern Ireland and London, and around a quarter in London, South East England and the Midlands.

“The impact of the pandemic has been as much financial as it has been on health in the UK. It is concerning that so many renters are feeling anxious about their housing situation, especially as the home has become an even more significant and important part of people’s lives this year than ever before” explains Jon Cooper, head of mortgage distribution at Aldermore.

“Encouragingly, landlords appear to have been supportive throughout this difficult time, with 74 per cent of renters saying their experience has been positive, and nearly nine in 10 renters saying communication with their landlord has been good. 

“Open dialogue and listening to tenants’ concerns or difficulties is an important part of being a landlord and, if they are financially struggling, lenders can provide options, such as mortgage payment breaks, to assist in managing portfolios and ease this strain during these difficult times.”

  • Ruan Gildchirst

    Is it possible for a LL to force the tenants UC to be paid directly to them if the tenants refuse to pay it?

    icon

    Far better to avoid renting to anyone on benefits where ever possible , the chances of getting the rent paid are slim .

     
    Bill Wood

    Although I echo Andrew's comment about not renting to UC people, some tenants only become UC dependant 1 or 2 years into the tenancy, and LLs don't have to be told.
    I had a family in exactly this position. I asked Chelmsford Council IF my tenant was on Housing Benefit, and the Council wouldn't tell me. I then sent them a formal letter asking for the Housing Benefit to be paid to me directly (not really knowing if there was any benefit being claimed), and the next month, and every month for a year after that, the Council sent me a cheque for £600 (ish)
    I can recommend this route.

     
    Fery  Lavassani

    Nowadays for the rent to be paid directly to the LL account, the tenant must be two months or more behind. We had one case in Stockport that the council other than schedule of rent arrears, wanted the LL to fill a form. One question in the form was the tenant's date of birth. Without that, they would not entertain the LL's request. Lets ne honest, how many of us know our tenants date of birth?

     
    Daniela Provvedi

    @Fery Lavassani I'd be very surprised if LLs don't know their tenants date of birth. As a minimum, you'd want a copy of their passport before they move into your property, wouldn't you? And secondly, what about the Right to Rent checks you, as a LL, have to carry out before they move in?

     
    Fery  Lavassani

    I agree Daneila, but not everyone holds a passport or driver's license. You would ask for these things if your tenant is non British. But if he is called Mr. Smith, then any other ID card such as students union card or Bank statement or previous council tax bill should suffice. I guess the best way is to insert a new box in the tenancy agreement to be field in, under the DOB.

     
  • icon

    Another very strange photo for the accompanying article. Same questions as before. Who are these young people? What have they to do with the article? (Are they the writer's adult children or relatives?). The public must have answers.

  • George Dawes

    You alright Dave ? You sound flustered

    Maybe go and lie down for a few years

    icon

    His posts are improving though!

     
  • George Dawes

    And look at the fonts , and the colours , this is outrageous, I demand this entire site in fact the whole internet while you’re at it is taken down until this blasphemy has been rectified

    The public must have answers ! Now , in fact immediately, in fact 5 years before this article was published

    Yours , mad as a hatter mr wirth

  • icon

    Daniela, is right we have always needed to know their date of Birth, usually Passport but maybe Identity Card or Driving License, we don't need "Right to Rent" check if from UK or possible from EU unless anything changed from Brexit. We do have to give them Tenancy Agreement, "How to Rent" literature from Shelter used to be 8 pages now 16 pages changed 10 times in just 6 years each time making it worse for LL but if you don't serve LATEST ONE you can't ever use S21 its another trick, you have also to give them Gas Certificate & DEICR + EPC as a minimum also Deposit Information if you take one, unless you are a HM0 you will need more.

icon

Please login to comment

MovePal MovePal MovePal
sign up