As nearly four in ten British adults expect that either they and/or their children will be living in rented accommodation in ten years’ time.
In a letter to Boris Johnson, co-signed by major industry names including Arcadis and developers Folio and Hera, Love to Rent CEO Anne-Marie Brown says the priorities for the new Prime Minister should be to “oversee and raise standards for millions of people currently in rental accommodation, much of which is not fit for purpose and to enforce these standards on landlords who do not comply.”
The letter comes in the wake of recent stats revealing that 28% of the UK population lives in private rented accommodation.
By 2025, this figure is projected to overtake owner-occupiers for the first time. A recent poll by Deltapoll found that nearly four in ten British adults expect that either they and/or their children will be living in rented accommodation in ten years’ time.
Claiming that “we are on the cusp of a rental revolution”, Brown also calls on the new Prime Minister to “encourage and play a part in the growing Build to Rent sector which has the ability to improve the lives of millions in the future.”
Explaining the thinking behind the plan and the importance of supporting those who rent, Anne-Marie Brown said: “The newly elected government needs to start looking at ways to support the growing rental sector, demonstrating that it is a real and secure alternative to home ownership.
“Programmes aimed at getting people on the housing ladder are positive. However, the government is in danger of completely ignoring the 20 per cent of households which are private rentals.
“As the number of people renting rises and the profile of those renting changes – with more families and older people choosing to rent – we need to refocus the agenda, placing more emphasis on improving conditions for renters, including holding landlords to account for poor performance, and promoting longer more secure tenancies.”
Richard Jones, Head of Residential & Regeneration at Arcadis added: “The Government should recognise that providing appropriate placed to live should be their focus with the growing rental market being a key element, not just home ownership.”