Latest News

Lack of direct financial support for the sector in the Budget

03 March 2021

The Chancellor of the Exchequer, Rishi Sunak, has announced a number of measures affecting the property industry in the UK Government’s 2021 budget, but Propertymark believes more should be done in order to tackle COVID-related rent arrears. Read More...

Calls continue for a Welsh Housing Survey

03 March 2021

Propertymark is continuing to back the National Residential Landlords Association’s (NRLA) in their campaign for the introduction of a Welsh Housing Survey (WHS). Laura Jones MS, Welsh Conservative Shadow Housing Minister, and Mike Hedges MS, Welsh Labour Chair of the Cross Party Group for Housing recently backed the calls by stating that “a Welsh Housing Survey is needed as evidence-based policymaking should be taken as standard.” Read More...

Surge in the number of prospective tenants seeking properties

26 February 2021

ARLA Propertymark’s first Private Rented Sector Report of 2021 covering January shows the number of new prospective tenants rose by more than 27 per cent compared to December 2020 indicating no sign of demand slowing down. Read More...

Renting Homes (Amendment) (Wales) Bill introduced

24 February 2021

The Welsh Government has announced the introduction of the Renting Homes (Amendment) (Wales) Bill which extends the minimum notice period from two to six months alongside other new provisions and will be implemented before the end of its current Assembly (May 2021). Read More...

 

 

Chancellor must act to tackle rent debt crisis

Thursday 18 February 2021

Propertymark alongside other sector organisations is calling for the Chancellor to act now and agree on a targeted financial package to help private renters pay off COVID-19 rent arrears to help sustain existing tenancies and keep renters in their homes.

At least half a million private renters are in arrears due to the economic impact of COVID-19. The UK Government’s own research shows that ‘private renters report being hardest hit by the pandemic’.

Renters and landlords whose finances have been affected since lockdown cannot keep tenancies going without additional financial support. 

Propertymark, NRLA, The Big Issue Ride Out Recession Alliance, Crisis, Citizens Advice, Joseph Rowntree Foundation, Money Advice Trust, The Mortgage Works, Nationwide Building Society, StepChange Debt Charity and Shelter welcome many of the measures taken to date, which have helped to sustain tenancies in the short term. But they do not go far enough to adequately protect renters going forward.

The longer the Chancellor waits to take action, the more rent debts will increase, and the greater the risk of homelessness will become. Without additional support, more renters will lose their homes in the coming months, with the risk of an increase in homelessness.

The organisations issuing the joint statement have the aim of sustaining tenancies wherever possible and consider that this requires two things in the forthcoming budget:

  1. A targeted financial package to help renters pay off arrears built since lockdown measures started in March last year. This will help to sustain existing tenancies and keep renters in their homes – whilst also ensuring rental debt does not risk them finding homes in the future.
  2. A welfare system that provides renters with the security of knowing that they can afford their homes. The pandemic has shown how vital this is to providing security at a time of crisis. The Government increased Universal Credit and Housing Benefit because it recognised that the system was not doing enough to support people in the first place, yet it has chosen to freeze Housing Benefit rates again from April and is considering cutting Universal Credit at the same time. It cannot be right that these measures could be pulled away from renters during continued economic uncertainty.

Action from the Chancellor now is urged to avoid renters being scarred by debts they have no hope of clearing and a wave of people having to leave their homes in the weeks and months to come.

Propertymark's COVID-related rent arrears campaign

Propertymark continues to focus on campaigning for Government support for COVID-related rent arrears in England in order to #keeptherentflowing.

The latest message from ARLA Propertymark President Angela Davey, outlines the measures that should be put in place, our serious concerns about landlords exiting the sector and asks every member to join the campaign by contacting their MP, referencing cases in your area.