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What Will Help Landlords Right Now?

May 21st 2021
By: Intercounty
What Will Help Landlords Right Now?

At Intercounty, our aim is to provide landlords with as much assistance as we can. We know that pleasing tenants is a challenging task, but with our support, we like to think landlords can achieve their goals with less fuss. We are fully committed to supporting landlords in and around Braintree.

We are pleased to say we speak with local landlords and tenants on a regular basis. We also stay in touch with the latest news and studies across the country. If you are keen to make an informed decision on the rental market, you will be pleased to know we are on hand to help.

Would upfront cash payments help landlords?

The National Residential Landlords Association is once again calling for upfront cash payments and rent guarantees. There has been a study, conducted by the NRLA and the Centre for Homelessness impact and the Behavioural Insights Team, which believes upfront payments and rent guarantees have the most positive impact on landlords.

NRLA chief executive Ben Beadle says: “The private rented sector can play a valuable role in providing longer term accommodation for those at risk of homelessness or struggling to maintain a tenancy. It is vital that policymakers heed the findings of this research to engage with landlords effectively and ensure they are confident that any risks they perceive will be addressed.”

Ben Beadle also said; “The central element for landlords is continued rent payments. Government holds the key to this, through continuing to link local housing allowance to market rents, improving the administration of Universal Credit and better utilising guaranteed rent schemes at a local level. Without taking these vital steps, the government will not tackle the homelessness crisis.”

However, even the authors of the report admit that landlord enthusiasm for changes along these lines were muted.

Landlords are in need of greater support

There is no denying the rental sector faces significant challenges these days. From March 2020 to April 2021, the number of Universal Credit recipients rose from 3 million to 6 million. The study spoke to landlords, asking them what changes would help them to view applications from UC recipients more favourably.

Some of the potential measures which landlords received information about included:

  • Pre-tenancy training

  • Budget planning

  • Alternative payment arrangement leaflet

  • A cash payment of £1,000 upfront

  • A written rent guarantee from the local authority

  • A deposit bond, featuring a cash equivalent to one month’s rent

  • Assistance from a landlord liaison officer

While rent guarantees and upfront payments were highlighted as the most usual form of support for landlords, there was an admission that these might not be enough. At this time, it is difficult to know what measures can be introduced which will please everyone.

For all rental enquiries in Braintree, please feel free to call us on 01376 322988 or why not email us at braintree@intercounty.co.uk. With considerable experience in the local rental market, and free valuation services, we look forward to helping you make an informed decision in the Braintree rental market.