“Harder for politicians to ignore renters” claims Generation Rent
2 years ago | 3 comments
How renting out 1.74% of empty bedrooms could lower rents by 22%
12:02 AM, 24th November 2023, 2 years ago
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With the UK facing a severe rental crisis, with demand for rooms far outstripping supply and rents reaching record highs, one flat sharing site says there is a simple solution.
According to data from SpareRoom, there are now 5.36 renters competing for every room available, up from 2.4 in 2017.
As a result, the average UK room rent has increased by 22%, from £635 in 2017 to £774 in 2023.
And the site says the simple solution is to rent out some of the 26 million empty bedrooms in owner-occupied properties.
‘We simply need to build more houses’
A director of the flat share site, Matt Hutchinson, said: “The common belief is that we simply need to build more houses.
“That’s true, but there’s also far more we could be doing to use our existing housing stock better.
“Persuading a tiny fraction of those with spare rooms to rent them out could effectively rebalance the market.”
He added: “That might not completely reverse the massive rent increases we’ve seen in the last couple of years, but it would potentially make a huge difference.
“And it’s not a case of having to force people into doing it.
“It’s a win-win, at a time when politicians seem out of ideas when it comes to bringing rents down in a meaningful way.”
8.9 million homes with at least two spare bedrooms
The latest census data shows there are 8.9 million homes with at least two spare bedrooms, and 8.3 million homes with one bedroom unoccupied in England and Wales.
SpareRoom says that if just 1.74% of those rooms were rented out, the ratio of renters to rooms would return to 2017 levels and – in theory – bring rents back down by 22%.
Renting out a spare room is not only a way to help ease the rental crisis, but also a way to earn extra income and make social connections, the site claims.
Thousands of homeowners already take in a lodger, helping them cope with the high cost of living and the sharp rise in mortgage rates since last year’s mini-Budget.
And by encouraging more people to rent a room out means, SpareRoom says, that they and the tenant will benefit.
Tags:
Easing Housing Shortage, Housing, Landlords, lodger, Rent, spare room, spareroom, tenants, UK, UK Rental Crisis Solutions, Utilising Empty Bedrooms
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Member Since April 2017 - Comments: 163 - Articles: 1
10:20 AM, 24th November 2023, About 2 years ago
And in HMO properties, remove the silly minimum room sizes, made worse by councils sometimes buy increasing the minimum room size. 20% of our properties had rooms just below the 6.52m so we had to sell rather than have a permanently empty room, evicting all tenants
Member Since September 2018 - Comments: 3504 - Articles: 5
10:32 AM, 24th November 2023, About 2 years ago
who the hell wants to share your home with a complete stranger? Renting a property you dont live in is stressful enough there’s no way I would share my own space.
Member Since October 2013 - Comments: 1630 - Articles: 3
10:33 AM, 24th November 2023, About 2 years ago
We grew up in a council house in the 60s, and had 2 lodgers. Older, single men. To my knowledge, they were respectable and worked, but I know my Mother was always concerned about having 3 young daughters living in close proximity to them, and one lodger disappeared overnight. I never knew why.
I suspect, if letting spare rooms became widespread, we would soon find ourselves paying council selective licensing fees, and be subject to stringent rules and regulations.
We have plenty of spare rooms, and do have a lodger [friend of my partner’s son], and previously had another to help out a friend down South. But, when you are used to having your own space to do with whatever you want, we found it quite inconvenient and intrusive. Also, we were always conscious of the potential security issues, and how our insurance could be compromised. We helped him find a flat!
My daughter now has a spare room, and let’s it on Airbnb!
Member Since September 2023 - Comments: 173
12:07 PM, 24th November 2023, About 2 years ago
A 22% rise since 2017 is a fall in real terms.
Member Since November 2022 - Comments: 73
12:34 PM, 24th November 2023, About 2 years ago
There are spare rooms available, but there are barriers. At present you need an expensive HMO licence and more complicated insurance and mortgages. A step they could take to enable people to let rooms in the home is to exclude the owner and family from the number of people needed before an HMO licence is needed. We have an HMO licence for our home, but we have only had two or three rooms let.
Member Since July 2013 - Comments: 754
5:37 PM, 24th November 2023, About 2 years ago
Reply to the comment left by Chris Rattew at 24/11/2023 – 12:34
I think you’re expecting too much common sense to be applied to make a solution workable….
Member Since September 2023 - Comments: 173
12:23 AM, 25th November 2023, About 2 years ago
Reply to the comment left by Chris Rattew at 24/11/2023 – 12:34
If you are a resident landlord then you are allowed two additional unrelated lodgers.
Member Since July 2023 - Comments: 179
3:32 PM, 25th November 2023, About 2 years ago
Reply to the comment left by Easy rider at 25/11/2023 – 00:23
Easy rider.
I thought that too.
Until Chris said he let’s 3 rooms.
I think that brings him onto the delights of HMO land.
Totally separately, the fact the Con govt is looking at slackening HMO rules for UKR refugees shoes that even they deep down consider them too inerous.
Such as 6.52m rule.