Aug

LATEST: Jersey leaders call for landlords not to increase rents as inflation rises

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The Jersey Landlords’ Association (JLA) has urged landlords not to put up rents if they can possibly help it during the cost-of-living crisis.

It says many of its members, many of whom use their rented property as a pension, are already exercising restraint by not increasing rents this year or increasing rents by less than inflation, as are social housing providers.

A spokesman adds: “We would urge JLA members and all other private landlords to continue to exercise restraint when reviewing rents, if they are able – taking all tenant and landlord circumstances into account – during this hopefully temporary time of high inflation.”

Earlier this month, Jersey’s government unveiled a plan to tax islanders less and give some people more money in benefits to help deal with rising living costs. The association says it welcomes the mini-budget along with the government’s efforts to build more much-needed housing to take the heat out of the market.

Spiral

The JLA spokesman adds: “Our members are also aware of the risks to the wider economy of creating a spiral of inflation driving rent increases which, in turn, leads to more inflation, but also that landlords are not immune to the effects of inflation either.

“In particular, the costs of property maintenance, repair and renovation have spiralled over recent years and mortgage interest payments are steadily increasing for landlords and homeowners alike.”

In January, Jersey’s Reform Party announced a shake-up the rental market to give private renters recourse against unfair or unjustified rent increases. Its Fair Rents Plan includes moves to reinstate the Rent Control Tribunal, giving private renters the opportunity to appeal to an independent body if they believe their rent is excessive.

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