Selective Licensing review shows unwillingness to listen to Landlords

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The Selective Licensing Review report demonstrates the Government’s unwillingness to listen to landlords, the National Landlords Association (NLA) says.

The report, which was released today, ignores the NLA’s suggestion of requiring local authorities to conduct an annual assessment to demonstrate the effectiveness of the schemes against the rationale for their introduction.

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Selective Licensing review recommends National register of Landlords

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The Government’s Selective Licensing review, updated today, recommends a proposed National register of Landlords. Click here to download the document: ‘An independent review of the use and effectiveness of selective licensing.’

Point 6 of the recommendations summary states: “Government should consider introducing a national registration scheme for landlords to support and complement selective licensing.”

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Cities where rentals are less than 30% of average income

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Studies suggest that you should only be spending 30% or less of your monthly income on rent in order to maintain a good standard of living. Those spending more than this amount are said to be ‘cost burdened’. Comparethemarket.com have looked into the cost of rent across The UK.

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Over-50s now account for 15% of renters

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Older Renters:

According to research carried out by Hamptons International, for its Monthly Letting Index, the over-50s now account for around 15 per cent of rented households. The figures were taken from letting records so far this year. This figure is up from 11 per cent of lettings in 2012.

Approximately one-third of this older group were pensioners. Hamptons estimates that in the current year, the over-50s have rented 791,580 homes in Great Britain, which represents an 8.2 percent increase over last year, and 61 per cent more than in 2012, when the comparable figure was 490,450.  As a result, Hamptons estimates, the over-50s will pay around £9.2bn in rent this year alone, up from just £5.1bn in 2012 and £8.5bn in 2018.

Aneisha Beveridge, head of research at Hamptons
International, says:

“The number of over-50s renting in Great Britain has reached
a record high.

“With younger generations much less likely to be homeowners,
tenants are getting older, and an ever more diverse group of people are calling
the rented sector home.

“Rising rents in the South drove rental growth in Great
Britain in May. The South West recorded the strongest rental growth, with rents
rising 4.0% year-on-year. Wales and the East were the only regions to record
small rent falls.�

Mortgage Introducer
reports that around £1 in every £7 paid by tenants in Great Britain, given Hamptons
International’s estimates, now comes from tenants aged over-50, compared to £1
in every £9 in 2012.

Hamptons reports that the average cost of a new letting in Britain
reached £977 pcm in 2019, representing a 2.6 per cent year-on-year increase, driven
mainly by rising rents in the South. The South West accounted for the strongest
annual rental growth of 4.0 per cent.

Further figures produced by the report include The South
East, with the highest proportion of older renters, where nearly one in five
(19 per cent) of tenants are over-50. The South West (16 per cent), North West
(16 per cent) and Wales (15 per cent).

The East of England, London and Yorkshire and Humber at 11
per cent showed the lowest proportion of tenants over-50.

Hamptons International

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