PRS is vital for the economy – report

PRS is vital for the economy – report

0:01 AM, 31st January 2023, About A year ago 5

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The private rented sector (PRS) plays a crucial social and economic role in the country, a report reveals.

According to a survey carried out by the National Residential Landlords Association (NRLA), most tenants in the PRS have had a positive experience of renting.

And, the report adds, it would be wrong to claim that private renters are ‘trapped’.

The NRLA found that 41% of tenants rated their rent affordability as ‘excellent’ or ‘good’, with 38% rating it as ‘fair’.

‘Positive and vital role the rental market has to play’

The NRLA’s chief executive, Ben Beadle, said: “Today’s report makes clear the positive and vital role the rental market has to play in the economic and social life of the country.

“Contrary to the rhetoric from many, for the vast majority of tenants their experience in rented housing is positive.”

He added: “This is the platform the government needs build upon to ensure a sector that works for renters and responsible landlords.”

Survey questioned 2,000 private renters

The survey questioned 2,000 private renters in England and Wales and found fewer than one in 10 of them want to switch to social rented housing.

Job security is also the biggest factor when people choose to buy a home with 37% of renters being more likely to buy their first home if they have a stable job.

This figure rises to 50% among renters aged 18–34.

The report also found that older people are becoming more reliant on the PRS with 48% of tenants over 55 saying they wanted to stay in the sector.

Helping more than 3 million over 65s who want to downsize

The PRS can also play an important part in helping more than 3 million over 65s who want to downsize, the report finds.

According to government data, 53% of owner-occupied properties are under-occupied, compared with just 15% in the PRS.

The report’s writer, Chris Walker, a director at ChamberlainWalker Economics, said: “For many, the PRS acts as an entry point to the housing market, helping younger people gain their footing and independence when they leave the parental home without the bigger jump and commitment of homeownership.

“The PRS is a mainstay housing option for many younger people whilst at university and for many as they move away from where they grew up to enter the world of work for the first time.”

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Judith Wordsworth

10:40 AM, 31st January 2023, About A year ago

So what's new? Has been for centuries.
Property ownership "for the masses" has only been an aspiration since 1945.

If people aren't housed by Councils/Trusts/HAs and cannot afford to buy and unless staying at home with parents till they can then there is only the PRS or squatting.

Would love to know how much the report cost to do!

Susan Bradley

11:41 AM, 31st January 2023, About A year ago

As a member of the NRLA I sat in on the webinar this morning. It was very constructive and I am pleased to say that there was even some agreement between Generation Rent and the NRLA - things are looking up! The point was forcefully made that increasing pressures in the PRS will mean that there is less of it and it will be more expensive. The ending of Section 21 is very real but nobody seems to know how to deal with problem tenants once it goes.


13:28 PM, 31st January 2023, About A year ago

omg! am I getting cynical lol imho and nothing personal, landlord associations have become the breeding ground for selling courses, oh yeah i have a A level in land lording lol thats fine be proud of yer efforts. But lets be honest we need warriors like the guys and girls who took on bank of ireland etc over their interest rate small print and won, if you remember the bla at the time said we are taking a soft step bt step approach lol What we want is less of this type of stuff, and real in the trenches action! Who really represents us in parliament, I remember MPs clapping in parliament when Cameron chancellor announced section 24 or is is 25 lol on another landlord ass. page they had a pic of themselves using our money to dine and wine MPs, and they then claimed they didnt know anything about it, ok section 21 yeah, some positive consultation,but its no good if we are all out of business lol where are the organised protests? I see the section thing is gaining momentum for 100 k signatures, good good, but where are we on the radar ref in ya face honest this is the state of landlords at the mo, Armageddon on the wat for tenants if it carries on, Documentaries like panarama, is that still on lol question time, sone tv ads from our rich associations, eck possible rent freezes has become reality in some of unified UK, ....on a good note thank God I finally inc with 118, of course horses for courses but do it now if advised all imho Maybe these associations need to hire some in yer face Dennis Skinners, Maggie, Churchillian passion, smoothed out with you nive folks already there lol to get our story across, respects for ya, but your culture of playing it like a gentle cricket game, on a summers afternoon is over, the Autumn storms are here , , all in humble opinion my opinions go by checking the fruit on the tree, look at the state of the landlording business, and no I aint selling you my homes cheap lol happy new year folks xxx


13:36 PM, 31st January 2023, About A year ago

Reply to the comment left by Susan Bradley at 31/01/2023 - 11:41
I also listened on the webinar this morning. There was also very good agreement from all sides about a property portal (PP). I,e. Councils should be actively seeking out those NOT on the future portal as they are the ones they need to target their enforcement resources.
IF the PP does get a green light then we need to get rid of the money making council-led selective licencing as again decent LLs always sign up for these anyway but the 'below radar LLs' don't bother.


13:37 PM, 31st January 2023, About A year ago

oops run of of editing time lol bla should read NLA but maybe bla bla bla was a subconscious thought at the time x

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