8th
Aug 2024
The Renters Reform Coalition headed up Generation Rant and made up of 20 or so groups has just announced/boasted that Lloyds Bank Foundation has agreed to fund the coalition which is already being cash funded by the Nationwide Foundation.
The Lloyds Bank Foundation helps local and smaller charities and communities in “working towards a more just and compassionate society”.
The organisation is classed as an independent charitable foundation linked to Lloyds Bank which itself has become a major operator in the Build To Rent sector.
A foundation’s member of its trustee board mentioned on its website as being "a member of the Risk and Responsible Business Committees at Lloyds Banking Group" and another another trustee acts as the "Group Chief Internal Auditor at Lloyds Banking Group."
Lloyds Bank subsidiary Citra Living already owns and runs 2,000 rental homes across the UK and plans to develop another 10,000 properties over the near future.
A month ago (June) it started developing a £13million BTR scheme in Nottingham and also bought up 156 new properties from Barratts which kicks off a strategic partnership between the two organisations.
The Renters Reform Coalition’s rental activist groups have for many years been highly critical of BTL landlords but seem to have forgotten to comment about the Build To Rent sector.
In November last year Ben Leonard leader of the Acorn activist group told MPs when giving evidence in the committee stage of the ‘benched’ Renters Reform Bill that landlord “one man bands” are likelier of exploiting tenants rather than large scale landlords or corporations.
He unabashedly told MPs: “From the evidence that I have seen, it seems that mainly smaller landlords are selling up to bigger landlords, which from the point of view of the tenant can be a step forward.
“Many tenants have a better experience dealing with corporate landlords than with one-man bands, who do not know the regulations, cut corners and will take advantage of vulnerable people.
“Generally, you do not get that with corporates. From the point of view of tenants, it is better to deal with larger, more professional organisations.”
And of course Ben Twomey of G.R. just had to enthusiastically tweet about the Lloyds Bank Foundation agreement and wrote it is “an exciting time for the renters’ movement.” He applauded the Lloyds Foundation’s funding and also the continual financial support it is receiving from the Nationwide Foundation, saying: “Together we’re stronger and the Renters reform Coalition will do all in its power to persuade the government to improve the situation of England’s renters.”
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