On account of surging rental demand, over two thirds (69%) of landlords believe that over the past year the balance of power between tenants and landlords has ‘shifted in favour of landlords’, according to a new poll by GetGround.
Conducting research amongst a pool of landlords from across the country, GetGround found that 50% of respondents said that they have experienced an increase in tenant demand for their properties in the past 12 months.
What’s more, when asked if the lack of available rental housing threatens to allow disreputable landlords to do harm to the rental market, 81% of landlords agreed that it does.
Moubin Faizullah Khan, CEO of GetGround, said: “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.”
Additionally, the research found that 57% of landlords believe that tenants are willing to pay higher rents to secure tenancies, while 55% say tenants will accept higher bills for utilities.
Only one in eight (13%) think tenants are expecting or demanding more from their landlords in relation to their rentals.
Similarly, 75% of landlords believe that, in light of the current supply/demand disconnect, tenants are having to be ‘less fussy or demanding’ about their rental homes.
Ben Beadle, CEO of the NRLA, added: “GetGround’s snap poll data highlights a perfect storm that’s coming, 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.
“This is very much a problem of the Government’s own making: reducing the PRS as landlords vote with their feet because of swingeing taxation and divisive rhetoric is in no-one’s interest.
“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.
He concluded: “A failure to do so will only ensure the current misery being felt by all in the sector continues.”
