NRLA chief executive Ben Beadle has met with housing minister Stuart Andrew to discuss the housing supply crisis, put the record straight on Section 21 and stress the importance of private landlords when it comes to the provision of vital homes to rent.
The housing supply crisis was at the top of the agenda during the meeting in Westminster, where Ben shared data from independent research agency BVA-BCRC showing demand for private rented housing is far outstripping supply, with 62% of landlords seeing an increase in tenant demand – an all-time high.
He warned the situation could be exacerbated by landlords leaving the market, which could, in turn drive rents up as the gap between supply and demand widens.
Research commissioned by the NRLA shows the size of the PRS will need to increase by 227,000 homes a year to meet current Government targets, and Ben told the Minister that to meet these there needs to be support for private landlords through pro-growth taxation policies.
While acknowledging the Government’s support for build to rent projects, Ben warned they are not a panacea and are unlikely to deliver the numbers needed, whereas offering additional support to the PRS would mean:
- An increase rate of new builds
- Additional conversions of commercial property to residential
- Movement of stock from short to long term lets
- More empty and older homes brought back into use
He also pointed out that while private landlords inject £3.6bn into local economies in the UK and provide vital rental properties for those who look to the sector for a home, many feel the Government has turned its back on them, penalising the sector in wave after wave of tax and legislation changes, despite 83% of PRS tenants saying they are happy in their homes.
Ben said: “While Stuart Andrew’s remit does not specifically cover the PRS, we discussed issues including the current cost of living crisis and its impact on landlords and tenants, as well as the supply crisis the country is facing and positive ways to tackle it.
“He was very receptive to the points I made about the importance of the sector to the provision of housing in this country and the meeting also gave me the opportunity to set the record straight on the stories around Section 21 that have been circulating in the media this week.
“It was an extremely productive meeting, and we, as an association, look forward to working with the minister and his department to ensure changes work for our members.”