11:26 AM, 11th April 2023, About 8 months ago 2
A manifesto calling on the Government to step up its support for the under-pressure lettings industry has been unveiled.
It’s the brainchild of rentech firm Goodlord which says that its manifesto, called Renting Done Right, is a ‘call to arms’ for the private rented sector.
It will be unveiled at an industry event next week and shares the insights from roundtables and events held with more than 1,000 letting agents, 300 landlords and 280 tenants over recent months.
Goodlord’s chief executive, William Reeve, said: “Landlords, agents and tenants are facing the perfect storm.
“Rising costs and mortgage rates are meeting lack of stock head on, against a backdrop of ever more convoluted regulation.
“The lettings industry is of national importance, but it’s consistently overlooked by decision makers.”
He added: “We need the Government to take meaningful, wholesale action to address the concerns of all rental market stakeholders.
“If they don’t, we risk undermining the stability of this essential sector.
“We hope this manifesto, which was created in collaboration with landlords, agents and tenants, can act as a catalyst for change.”
The measures make clear the steps needed to support an industry that is feeling the effects of low housing stock, rising inflation and escalating demand.
The Renting Done Right manifesto follows on from the open letter organised by Goodlord earlier this year, which called on the Government to step up their support for the rental market.
That letter attracted more than 1,100 signatures from letting agents and landlords.
The manifesto highlights that 79% of landlords say there will be less housing supply across the UK in the next five to 10 years.
And, when asked if there is enough clarity from the government regarding its medium to long-term plans for the lettings sector, a huge 81% of agents and 70% of landlords said ‘No’.
Also, 88% of landlords are ‘somewhat’ or ‘very’ worried about the introduction of the Renters’ Reform Bill, which is due to be debated in Parliament.