Landlord Law Newsround brings you all the latest housing news and more.
Official – over 55’s are fastest growing tenants
Paragon Bank has carried out research and has claimed that the number of over 55 year olds now renting has grown by 66% in the last decade to 492,000.
Those aged over 65 are close behind, with a 33% increase to 433,000.
They claim that there has been a reduction in the number of younger people renting. Those renting between 25-34 years old has fallen by 9% to 1.45 million.
Paragon’s managing director, Louisa Sedgwick says
Given the ageing demographic of the UK, we would expect this trend to continue, so landlords need to be mindful of the needs of more mature tenant groups and adapt their approach to suit their needs.
She adds that these statistics have ‘broad implications for the sector and policymakers’.
As expected, there has been a demand for more accessible rental properties as the demographics change to older renters. Leader Romans Group has stated this week that 40% of renters are now seeking homes without stairs, non-slip floors, handrails, wider doors and walk-in showers.
The portals are also now including ‘accessible features’ as part of their searches.
You can read more here.
Rent arrears concern continues to grow
Google has shown an uplift of 8.6% of ‘rent arrears’ searches, according to Zero Deposits data over the past three months. This could be down to the uncertainty of the Renters Rights Bill and what the tenants’ rights will be, but evidence also shows that it is also down to tenants struggling financially and wanting to know how they stand legally.
The Renters Rights Bill has seen an increase of 340% in Google searches from both landlords and tenants seeking to find out how it will impact them when it comes into force mid next year.
Sam Reynolds Chief Exec of Zero Deposits, said
An increased interest in rent arrears is a potentially worrying sign and could indicate that more existing tenants are struggling to manage the high cost of renting, whilst landlords are also concerned about the protection in place to ensure they maintain a consistent stream of rental income.
With many changes due to come into force with the new bill, it is hardly surprising that there is a lot of interest in how it will affect both renters and landlords.
Overcrowded HMO hit with massive fine
Newham Council’s Environmental Health Officers have successfully brought a rogue HMO landlord to justice and cour,t resulting in a massive £60,000 fine, where the landlord had families living in dangerously overcrowded accommodation that was infested with mice.
Mr Ilyas Patel was also told to pay additional costs, bringing the total fine to over £63,977. When council officers inspected the property back in 2023, they found five rooms occupied by four unrelated families with small children, all 13 occupants were sharing one kitchen and bathroom. Tenants were paying £600-£750 pm rent.
Newham council is one of the few councils that proactively goes out looking for hidden HMOs rather than waiting for tenants to raise complaints and fear retaliation from their landlord. Their spokesperson said
This verdict sends a strong message to landlords and managing agents that overcrowded, unsafe, and unlicensed properties will not be accepted in Newham.
Well done to Newham Council.
Landlords morale drops with impending changes
Savills claims in its recently carried out research that 73% of landlords are feeling less confident as we end this year due to the Renters Rights Bill, abolishment of section 21 and the unknown costs in making their properties more energy and EPC efficient.
Over half of landlords, 57%, have ‘significant concern’ regarding the increase in notice period for rent arrears (notice going to four months) and the added delay in getting possession.
41% of landlords are worried over energy efficiency upgrade work, all private rented housing must be at an EPC C by 2030. Costs for making houses more energy vary considerably, along with what landlords are prepared to pay.
You can read more here.
Snippets
City council slammed for ‘double standards’ over HMO licensing
Judge orders landlord to pay back tenants £44,000
Landlord selling up is fuelling the homelessness crisis – NRLA
HMRC campaigns for landlords to get on board with Making Tax Digital
See also our Quick News Updates on Landlord Law
Newsround is taking a break over the Christmas period and will be back again in the new year