Housing charity calls for changes to private renting
The housing charity calls for a new kind of tenancy called the Stable Rental Contract to become the norm across the rental market in England. The contract would give renters more stability to put down roots, and landlords more certainty of a good return on their investment. The charity says the new Stable Rental Contract would:
* Last for five years, giving renters the chance to put down roots
* Increase rents in line with inflation each year, giving landlords predictable incomes and renters predictable outgoings
* Give landlords confidence that they can easily evict genuinely bad tenants
* Allow landlords to end the tenancy if they sell the property
* Give renters flexibility, allowing them to give two months notice to leave.
Over the last fifteen years, the number of people who rent their home from a landlord has almost doubled to 8.5 million people, and nearly a third of renters are families with children. At the same time, Shelter’s research shows that 35% of renting families worry about their landlord ending their contract before they’re ready to move out. More than one in four renters (28%) don’t think a rented home is a suitable place to bring up children.
Two thirds say they’d like the option of staying in their home long-term, but the current average stay in a rented home is 20 months.
The charity’s report also draws on research by property consultants Jones Lang LaSalle showing that the Stable Rental Contract could increase landlords’ return on their property investments. Compared to the irregular way that some landlords currently increase rents on their properties, their returns would actually be increased with longer-term tenancies and predictable rent rises in line with inflation.
Campbell Robb, chief executive of Shelter, said: “With a generation priced out of home ownership, renting is the only choice for growing numbers of people. But with the possibility of eviction with just two months’ notice, and constant worries about when the next rent rise will hit, the current rental market isn’t giving people – particularly families – the stability they need to put down roots.
“Turning rented houses into homes should be a priority for everyone who cares about the wellbeing of families in this country, and government must now show the political will to make renting better for millions of people desperate for a stable home they can rely on.”renting
Latest from Independent journalists on Twitter