Rental Market not enough Supply

A worrying trend of the last few months has been a distinct lack of suitable property available to rent. There are numerous reports of tenants queueing up and competing for the right property and in some cases ANY property.

The government needs to take this worrying trend on board and stop constantly bombarding landlords with extra legislation. If the number of landlords as predicted (around 20%) do decide to sell up, where are these existing tenants supposed to live; let alone the ones already trying to find a roof over their head?

The current thought that everyone can now afford to buy their own property and get on the property ladder is badly misguided, because house prices have continued to rise sharply this year leaving many youngsters unable to find the required deposit without the help of the “bank of mum & dad”. The government backed schemes are well intended but like the predecessor, Help to Buy, will only help to encourage prices to continue to rise.

The PRS needs help and it needs it now, because there is a massive disconnect between the vulnerable and poor and the rest of the housing market; especially considering there is a massive shortfall of social housing. There is no satisfactory safety net for the very people the government claim to want to help and protect; they cannot now turn their back on the only sector that has and can take up the excess, if it is allowed to thrive and not be left to wither!

Article by Philip Keddie  FNAEA CRLM FARLA (Honoured) MARLA (Inventories) Expert Property Letting consultant
ARLA Propertymark Past President
Qualified Mediator specialising in property issues
phil@sunshinerl.co.uk

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