Private rented sector
60 second overview
Buying a house is increasingly out of reach for tens of thousands of London households, while the contribution of social housing to providing Londoners with homes is declining. Meanwhile, the private rented sector (PRS) is growing rapidly. While private renting is a satisfactory solution for many Londoners, we are concerned with the current state and growth of the sector.
The London renter demographic
For too many London renters, the housing on offer is unaffordable and of a poor quality. The “typical” private renter is changing: from young professionals and people in transition, to low- and middle-income working families for whom buying privately is not a realistic option and who do not qualify for the limited social housing available.
Nearly half (48%) of London private tenants would rather not be renting, and one in five is not happy with their accommodation; the end of a private sector tenancy is now London's leading cause of homelessness. Private renting must be regulated properly and made fit-for-purpose so it can be a long-term housing option for such households. Most private landlords want to ‘do the right thing’ by their tenants, but they often lack the government-led support and guidance necessary to make this easy.
Improving quality and stability in the private rented sector
The Trust is keen to improve the experience of private rented accommodation for Londoners on low incomes. To this end we support the work of Generation Rent and Advice4Renters; we have funded research by Future of London into the sector, including on landlord licensing and build to rent. We seek to contribute to policy discussions, e.g. on the end of Lettings Fees, on behalf of grantees, and participate in relevant forums such as at the GLA. We have also invested in improving the sector through mission-related investments to Real Lettings and Commonweal Housing’s Peer Landlord model.
From our Twitter
There is backlash against TGI Fridays for the way that they split up tips which are paid by card. Staff at two outlets are planning a walk out. https://www.independent.co.uk/news/business/comment/tgi-fridays-should-play-fair-over-tips-as-strikes-loom-a8357341.html …18 May 2018
Research from @HeriotWattUni shows that the demand for new housing is significantly higher than the Government targets would provide. #ukhousing https://www.independent.co.uk/news/uk/home-news/housing-homeless-crisis-homes-a8356646.html …18 May 2018
A report from the @resfoundation found that the number of low paid workers in the UK has fallen to its lowest level since the 1980s - due to increases in the minimum wage. But working poverty in London is still high, with housing costs a major factor. https://www.theguardian.com/money/2018/may/18/number-of-low-paid-uk-workers-falls-to-lowest-level-in-decades …18 May 2018
"The government will consult on banning the use of combustible materials and cladding systems on high-rise residential buildings." - @JBrokenshire speaking to Parliament today. http://www.dailymail.co.uk/wires/reuters/article-5740391/UK-ban-combustible-materials-tall-buildings-Grenfell-fire.html …17 May 2018