Private Landlords Vital for Rental Sector, Report Says

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A recent report highlights the important role landlords play in the housing market.

The study, conducted by the Radix Big Tent Housing Commission, emphasises the need for both essential and choice renters to have access to sustainable, high-quality, and safe homes.

It states that “both institutional and private landlords have a critical role in the housing market and should be treated equally alongside volume housebuilders.”

The recent call for action comes in response to warnings from organisations such as Zoopla, Rightmove, and the Royal Institution of Chartered Surveyors, which have highlighted that the demand for rental housing is significantly outpacing supply. This imbalance in the housing market raises concerns about the availability and affordability of rental properties for tenants.

In light of these challenges, the Radix Big Tent Housing Commission, which was formerly chaired by the renowned housing expert Dame Kate Barker, has expressed its support for a comprehensive strategy to address these issues. The commission has backed the National Residential Landlords Association’s request for a clear and actionable plan to improve the justice system, particularly in relation to the ongoing discussions surrounding the Renters’ Rights Bill. This collaborative effort aims to ensure that both landlords and tenants are treated fairly and that the rental market can function more effectively for all parties involved.

The report underscores the need for a clear set of standards that both tenants and landlords should expect from the justice system. It calls for the establishment of a comprehensive roadmap to explain how these standards can be achieved effectively. This initiative aims to ensure that both parties are treated fairly and that their rights are protected within the legal framework. By laying out these expectations, the report seeks to foster a more transparent and efficient system that can better serve the needs of both tenants and landlords alike.

Ben Beadle, chief executive of the National Residential Landlords Association (NRLA), highlights the pressing challenges renters are currently facing. He notes that a chronic shortage of rental homes is significantly impacting tenants across the country, resulting in increased competition for available properties. This shortage not only limits options for renters but also contributes to rising rental prices, making it difficult for many individuals and families to find suitable accommodation. Beadle stresses the importance of providing renters with more choices in the housing market to alleviate these pressures.

Furthermore, Beadle points out that both institutional and private landlords have a crucial role to play in meeting the housing needs of the nation. As the demand for rental properties continues to grow, it is essential for landlords to step up and contribute to increasing the availability of rental housing. By doing so, they can help create a more balanced market where both tenants and landlords can thrive. This collaboration is vital to address the ongoing housing crisis and ensure that renters have access to safe and affordable homes.

In addition to addressing the housing shortage, Beadle urges the Government to support the Commission’s recommendation for a plan to enhance the justice system. He believes that improving the legal framework is essential for protecting the rights of tenants and landlords alike. By working in tandem with the Renters’ Rights Bill, the Government can create a more robust system that promotes fairness and accountability in rental agreements. This dual approach could lead to a healthier rental market, benefitting all stakeholders involved.

Ministers have committed to preparing the courts for the changes outlined in the Bill. However, there needs to be clear communication regarding what “ready” entails to benefit both tenants and responsible landlords.

The report highlights that renting has traditionally been seen as a “second-class” option, with policies favouring home ownership above all else. It is essential that both those who need to rent and those who choose to do so have access to sustainable, high-quality, and safe housing.

Both institutional and private landlords play a vital role in the housing market and should be treated equally to large housebuilders. The range of housing providers has become much more diverse, and each one can contribute significantly to addressing the ongoing housing crisis.

The report emphasises the importance of acknowledging the housing provided by reputable private landlords. This recognition is represented by professional organisations that adhere to voluntary codes of conduct, such as the National Residential Landlord Association and The Property Institute. Similarly, larger institutional Build to Rent providers are represented by the British Property Federation (BPF) and the Association for Rental Living (ARL), which oversee both traditional single-family homes and multifamily apartment blocks in urban settings.

Additionally, the Commission expresses support for the NRLA’s call for the Government to develop a plan in conjunction with the Renters’ Rights (Reform) Bill. This plan should include a clear set of standards that both tenants and landlords can expect from the justice system, along with a roadmap for achieving these standards.