Long term tenancy should be guaranteed to the tenants in Private Renting Sector

In our previous blog posts we have been already mentioning about the rush in the home renting sector, and how that is living on rent becoming a trend in UK. Having also known the problems that these private tenants face from their private landlords, the problem does really need a check.

More people are going to opt for living in private rented sector over social housing in UK because social rents will be 80% of the local market rate. Since, the supply is low and the other options unviable, many in UK are finding house renting quite attractive, which facilitates making initial payments through overdrafts and the best thing, you can quickly move out and quickly get a house – only possible through renting. Since the supply is already low, there are many youngsters in London, who having no option are living with their parents and grandparents.

Today, we all know that the UK’s private renting sector is booming. However, we don’t even want to it boom through unfair means. Thus we can ensure their fair growth of the private rental market in two ways:

• Build more houses – increase in supply
• Renting needs to be easier, i.e. affordable - even if there is a sudden increase in the demand, the landlords need not higher the rents. This will only cause them the problem relating to irregular rental payments or else losing out on the tenant.

Therefore, long term renting is what is advisable for the private landlords of UK, if they really want to cash on the situation fairly. “There is nothing wrong with long-term renting per se: it's the norm in most European countries, where the law tends to favor tenants. And so it should: a tenant's need for secure shelter takes moral precedence over a landlord's right to safeguard his income” – should be remembered by the private landlords.

Read More

Need for regulating the private renting sector

Housing is the essential most need for humans. In UK, with the ongoing trend of economic downturn, this basic necessity is literally now turning into a luxury with the private landlords trying to charge much more to the tenants than usual.

Unusual growth of the private renting sector has made lives hard for the tenants. More often, issues regarding safety and security of tenancy are neglected by the private landlords. There are many cases to prove this fact. One of such recent case in the sector was investigated by Guardian's journalist; Amelia Gentleman who helped unearthed the corruption occurring in the sector.

Guardian's journalist exposed how many of the vulnerable and low income earning's tenants are asked to pay exorbitant rents for merely a shed with a toilet. Examples of such practices are rampant and widespread.  This makes it a total visible case of corruption in the private rending sector, of how heinously, the private landlords are cashing on the situation of lower supply and higher demand of housing in UK.

With the further deteriorating economic condition in London and South East, the minimum wages of the low income workers are seen falling below their real wages, making them so vulnerable at the hands of private landlords.

This phenomenon serves as the latest example of how capitalists rule the society and how they exploit, till date the needy and destitute.
Other problems faced by private tenants are that of high energy costs, absence of security of tenure and landlords' reluctance to repair to improve the property.

If this trend is to continue more, then this will only lead to an addition in the already increased demand, thereby increasing the rents, and those, in utter need, most of the time the poor, get pushed aside and denied of their right to live in securely and safely.

This problem needs to be solved for housing is a basic need for poor as well as wealthy in a nation and to provide a secured roof to its citizens is the foremost duty of the state. Keeping the fact in mind, there is a dire need for regulating the private rented sector.

Regulation of private renting sector needs to be made in the form of holding licenses for private landlords a compulsion. A compulsion should be made for all the private landlords, in fact all the landlords, to hold the license, and only that shall act as a basis for trading. Besides, the license, they should also be guaranteeing on adhering to certain standards required and letting a property that is genuine.

The task of this can be given to professional property management companies, who shall also see that the regulation is followed and implemented on, regularly.

All in all, there is an utter need to regulate the private rented sector, before it expands exponentially at this chaotic speed and exploits the poor further.

Read More