Rising cost of living hitting tenants hard

Most (83%) of people have seen an increase to their cost of living – suggesting the UK’s burgeoning inflation and energy prices are starting to take effect.

The current situation is hitting tenants hardest, as around half (53%) of adults who rent their home reported that they could not afford an unexpected expense compared with one in 10 (13%) homeowners.

Polly Neate, chief executive of Shelter, said: “Today’s ONS figures show that the cost-of-living crisis is piling on pressure across the country, and its renters’ pockets that are being hit the hardest.

“Our frontline services are already hearing from people who having to choose between putting food on the table, keeping the lights on, and paying their rent. With bills skyrocketing and rents higher than ever, far too many will struggle to keep a roof over the head as this crisis deepens in the coming months.

“If we’re going to prevent rising homelessness this year, the government must help renters weather the storm by making housing benefit fit for purpose. Long term, to insulate more people against cost-of-living shocks, we need investment in social homes with affordable rents pegged to local incomes.”

Estate agency body Propertymark blames the current situation on dwindling Universal Credit and Local Housing Allowance rates.

Timothy Douglas, head of policy and campaigns for trade body Propertymark, said: “We recently attended the All-Party Parliamentary Group for the Private Rental Sector and shared concerns that low income families in the private rented sector are the most vulnerable to the considerable pressure the market is facing.

“Universal Credit is not fit for purpose and Local Housing Allowance rates are in dire need of a review to keep up with rental prices.

“The UK Government need to take a serious look at the impact of recent and upcoming legislative changes that are causing a huge number of landlords to reconsider their investments at a time when they are being heavily relied upon by social housing providers who are also facing a drought of stock and investment.”

In early 2022 (6 January to 27 February 2022) an increase in the price of food shopping (90%), gas or electricity bills (79%) and the price of fuel (71%) were the most common reasons reported by adults who said that their cost of living had increased.

Comments 3

  1. And maybe Polly:

    Every Anti Landlord regulation the Govt & Councils & yourselves has called for, has cut supply & made it worse & more expensive for tenants, especially Benefit tenants. I used to love helping Benefit tenants. I no longer can cause of all these policies. Benefit tenants can’t afford these extortionate rents any more which Landlords command, some cause they have to, some cause they think Screw u I’m charging more now, & some just cause they can cause 50 working people queuing for every property-Benefit tenants don’t get a look in.
    Ooh & some cause if u want New Build Standards, you gonna pay New Build rents.

    You are too besotted by the minority bad landlords & area’s that u r forgetting the massive majority that u don’t hear about that haven’t got a problem.

    When this section 21 gets banned, u watch rents spiral upwards yet again.
    Councils won’t take tenants any more when more Sections 8’s get issued cause that’s intentionally homeless.

    U thought Landlords weren’t taking Benefit tenants cause of mortgage restrictions & insurance? And what’s happening now? Ooh, Landlords are still refusing Benefit tenants. Wake up Shelter, come & ask us why. Landlords are telling u all sorts of excuses cause u will prosecute em if u don’t like the answer. Gees, u have no idea. I want to be your friend. People like me have been housing your clients for 25 years & u r pushing us away. U make it better for that one tenant that rings u, consequently u then make it worse for the next 1000 tenants with another anti landlord ruling or reg.
    Simple one for u, who does it help when the Judge chucks it out of court cause Landlord has no proof he gave boiler certificate 6 years ago? And he’s had new boiler since so it’s completely irrelevant certificate for old boiler. It helps that ONE tenant. But u know afterwards, when the Landlord has spent another £1000 on court fees & solicitors & he eventually gets his house back, he sells the ruddy thing & the next Landlord don’t take any less than perfect working tenant again & charges the earth.

    You should be coming to ask us us and saying
    Mick, what can we do for u that is going to make u not sell all your houses and what can we do to entice more landlords in as we in the crap here, our hostels are full too and not emptying.
    We’re sorry we wanted all your 50 year old houses to have New build standards, we din’t realise that would result in impossible rents for benefit tenants.

    Few extracts below & link herein
    from pieces I & other Landlords wrote on the issues u need to solve. Long I know. But work with us and rents will reduce.

  2. Us landlords are lucky that our gas, electric council tax and general food and living costs are totally inflation proof and our rental houses maintain themselves and automatically comply with every regulation that gets dreamed up at absolutely no cost to ourselves! Get real, we are all feeling the pinch. Being a landlord is becoming less rewarding and more onerous as time goes on. Many are selling up, there is an article in today’s Daily Mail about shortage of rental properties, especially in areas where new regulations and licensing schemes are starting to bite. As landlords are always assumed to be guilty and get no protection when things go wrong they have to now be very picky about tenants, apparently in some areas where there are fifty or more chasing each property prospective tenants are having to send a CV in with proof or earnings to be considered and tenants have even started gazumping each other! Talk about the laws of unforeseen consequences! Measures that are supposed to help tenants do just the opposite

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