Uk Tenants Net Salary Goes On Rent Payments
East Midlands and 33% in South-West and Wales
, to a severe upswing of 36% in the south-East.The Rightmove, had warned 61% of tenants to expect their rent to be higher in 12 moths time. "This is unique evidence of a rental squeeze that may be leaving some tenants with little, or no, headroom left to pay more," says Rightmove director Miles Shipside.
The report further noted the presence of trapped renters who are forced to pay rents to their landlords as they are not able to access a mortgage loan.
The reasons that can be attributed to this effect are certainly the inequilibrium between the supply and demand for rented properties and higher standard of living. The demand is seen exceeding the supply, thereby, making rental payment double and therefore this situation.
This could lead to situations like allowing more people to stay as tenants in one house, more grown-up kids to live with their parents, etc.
Calls for rent controls have been going on in UK but landlords and property think tanks are of the view that tapping the rental rent would further accelerate the demand, leading to excessive rental prices. This situation, however, unreasonable and rude, is seen to bring the demand supply equilibrium in the rental market.
The National Landlords Association is in stiff opposition with regards to capping the rents. Chris Norris, head of policy, at the NLA says: "Government intervention through rent controls would be counter-productive to encouraging supply at a time when it is so badly needed.
"Past experience shows that imposing artificial controls on the market deters investment, which is the last thing anyone wants. Previous rent controls resulted in the shrinking of the private rented sector to just 8% in the late 1980s.
"Rent control, or the artificial suppression of rents, may also serve as a barrier to further investment in the stock of private rented properties, as the rent generated was historically often too low to allow the landlord to operate a proper maintenance regime without making a financial loss."
We have already seen the negative impacts of rent rise on peoples income. The figures we see paint a worrying picture of rented households in UK, who are doing all that they can just to keep a safe roof over their heads amidst this down trending economy.
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