Rent Increases from Landlords lead to outcry from rental groups

The Property Nomads Podcast

Rob looks into the alarming findings of the English Private Landlord Survey of 2024, revealing that over a third of landlords are raising rents by at least 15% for new tenancies. This surge in rental prices has sparked outrage among renter groups, prompting calls for government intervention to address the escalating costs of housing. The discussion highlights the increasing number of landlords planning to reduce their portfolios, the challenges of energy efficiency in rental properties, and the reluctance of many landlords to accept tenants on housing support.

KEY TAKEAWAYS

• Over a third of landlords are increasing rents by at least 15% for new tenancies, leading to significant concern from renter groups and calls for government intervention.
• The proportion of landlords planning to reduce their portfolios or sell properties has increased from 22% in 2021 to 31%, indicating a growing sentiment among landlords to exit the market.
• A significant number of landlords (47%) have properties with a D rating or below for energy performance, yet only 35% plan to improve energy efficiency, suggesting potential financial constraints or unwillingness to invest.
• A notable percentage of landlords (38%) are unwilling to rent to individuals receiving housing support, and 47% are hesitant to accommodate tenants requiring adaptations for disabilities, reflecting a challenging rental landscape for vulnerable groups.

BEST MOMENTS

"Over a third of landlords are apparently raising rent by at least 15% for new tenancies."

"Nearly a fifth of those raising the rent on existing tenants did so by a whopping 15 percent or more."

"Eye-watering rents put this out of reach for too many."

"If you put a price cap on something, it's gonna have an inadvertent effect on the people you're trying to protect."

"Unless people want to look into that and admit why this is happening in the first place, I'm not sure we're going to come up with any useful solutions moving forward."

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