Shortage of Rental Homes

Date Published 02 June 2022

The BBC reports people hoping to find a property to rent are going to ever greater lengths to secure a home.

As well as having to find ever bigger deposits, tenants are offering prospective landlords CVs for their children and photos of their well-behaved dogs.

That's because a shortage of available homes is pushing up monthly rents, deposits and leading to bidding wars.

Changes to taxation have made letting properties less profitable at the same time as legislation regarding maintenance and energy compliance has pushed up landlords' costs.

The temporary ban on evictions during the pandemic left many landlords out of pocket, meaning an anticipated ban on "Section 21", which allows them to evict tenants easily, is causing concern they'll be left with limited power to protect their properties.

With a shortage of rentals and something like 179 new rules in the last five years, there are fewer landlords than ever.

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