3rd
Jul 2024
A leading industry figure has slammed MPs for leaving the private lettings sector in a perpetual state of unease and giving tenants the chance to live rent free for up to twelve months.
Andy Halstead chief executive of two PRS companies made this claim when commenting alongside their latest rental index which reported an overall rental increase of 0.2% between May and June.
Scotland ‘enjoyed’ the top increase with a huge +3.8 % in the month.
Other regions with rental increases were Northern Ireland +1.8%, Wales +1.6%, South East +1.5%, East of England +1.2%, West Midlands +0.4%, North West +0.3%, East Midlands +0.2% and the North East +0.1%.
However there were regions that had rent decreases with Greater London -1.6%, Yorkshire & Humberside -0.6% and the South West -0.3%.
Halstead says: “The data and analysis speak for itself. All stakeholders in the private rental sector are managing their way through turmoil, not least landlords and tenants. Professional letting agents have the most difficult task, balancing the needs of both, whilst working in a political void, with uncertainty everywhere.
"It is rarely quoted that a tenant can now quite easily occupy a rental property for 12 months or so, without paying a penny in rent. Whilst this is a fact, politicians run away from dealing with the challenge.
"A viable private rental sector requires support for all stakeholders, including agents and landlords, this still looks like a pipe dream. Rent Guarantee and Legal Protection have never been more important.”
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