Even though there is an increase in demand for a rented home, the latest figures released show that over 40% do not meet standards required, according to damning figures released by the Coalition Government.
The private rented sector is booming because more and more would be buyers are finding it impossible to get a mortgage. Last year there were 3.4 million households living in a privately rented property which is covered by landlord insurance. This figure was up from 2.4 million in 2005, and means that one in six people are now living in privately rented accommodation.
However, 1.4 million properties in the PRS (private rented sector) have been branded as being “non-decent”, according to the Department of Communities and Local Government. This means that a property has failed three or more minimum standards required. The standards include: a kitchen less than 20 years old; a bathroom less than 30 years old; good insulation and energy-efficient features. In addition, the survey shows that there are serious damp problems in 15% of privately rented sector properties. Flats and houses managed by housing associations or local councils fare much better in all categories of the survey.
Steven Smith, who organises private tenants’ groups in Yorkshire, said “Privately rented homes have been ignored until now because they have been in a minority and tenants have been younger and considered able to fend for themselves. Now the PRS is growing and the tenants are all ages. There’s a need for action on property conditions and tenant rights, to make them equal with the social and owner sectors.”
There is now a huge shift in housing as a whole new generation are growing up and choosing to long term rent. Record levels of demand and a severe shortage of stock is an issue which will need addressing sooner rather than later.