Dec

Rental stock shortage to give rogue landlords ‘free rein’ warns buy-to-let firm

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Landlords’ increasing power and a dearth of rental homes is likely to give rogue operators free rein, according to a snap poll by GetGround.

Half of those quizzed have seen an increase in demand for their properties in the last year, prompting more than two-thirds (69%) to believe that the balance of power has shifted in their favour, while 81% reckon a lack of housing threatens to allow disreputable landlords to harm the rental market.

GetGround reports that 57% of landlords say tenants are willing to pay higher rents to secure tenancies, accept higher bills for utilities (55%) and accept unplanned rent increases (69%).

Only one in eight (13%) think tenants are expecting or demanding more from their landlords.

CEO Moubin Faizullah Khan (pictured) says: “With recent history as our guide, it’s easy to imagine how the private rental sector could be brought into disrepute by bad actors: disproportionately high rents, unexpected bill increases, unfairly terminated tenancies and so on.

“Landlords and tenants alike need the right protections and safeguards to ensure none of this poor behaviour is able to happen, particularly as high mortgage and energy costs continue to put even more pressure on landlords to find means to stay solvent.”

Perfect storm

NRLA chief executive Ben Beadle (pictured) believes the poll data highlights the arrival of a perfect storm, combining the increased cost of living with rising rents.

“That rents continue to rise is due to the impact of a lack of supply and record demand in the private rented sector,” he adds.

“It’s time for the government to reverse this failed approach by reversing mortgage interest tax changes, abolishing the 3% stamp duty land tax surcharge, investing in social housing and unfreezing local housing allowance for renters.”

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