There is no getting away from the fact that 2020 was a challenging year for many people. The rental market suffered like every other sector, and there were many calls for tenants to receive support.

However, it must be said many landlords were faced with considerable pressure and difficulties. While many people in the letting sector would liked to have did more to support their tenants, it wasn’t always possible.

At Andrew Lees, we know there are many different arguments to be made when it comes to offering support in the rental market. Therefore, we find it interesting to see that private landlords did more to support their tenants than social landlords did.

If you are a landlord in or around Bridgwater, and you are concerned about what 2021 is going to bring, we can help.

We are pleased to say we know the local lettings market, and we stay in touch with what is happening right now.

Private landlords have been supportive of tenants

According to information contained in the English Housing Survey, which has recently been published, 6% of private tenants have benefited from a reduction in rental payments since the pandemic started. In comparison, only 2% of tenants in the social sector have benefited from a rent reduction.

An additional 5% of private tenants agreed a rental holiday with their landlord, and this compares to 3% of social sector tenants agreeing a rental holiday.

A further 12% of private tenants have reached an additional agreement with their landlord, while only 9% of social tenants have reached this outcome.

While the support from private landlords is welcome, more social tenants are likely to be in financial trouble. In June and July of 2020, 13% of social tenants stated they were in financial arrears. Only 7% of private tenants made this claim.

The National Residential Landlords Association (the NRLA) has issued a warning that while all help is welcome, there is a chance that landlords have reached the limits of help they can issue to their tenants.

Landlords need more support

Ben Beadle is a NRLA Chief Executive, and he said; “These figures prove what we have been saying that many private landlords have done everything they can to support renters affected by the pandemic. But their ability to provide further help has run out.”

Ben Beadle continued by saying; “The government needs a proper plan to get COVID-related arrears paid off and sustain tenancies. Simply banning repossessions temporarily is just kicking the can down the road and is just making the eventual problems worse for both tenants and landlords.”

As an experienced letting agent serving the Bridgwater community, and many of the surrounding areas, we are here to help. We promise to stay in touch with the latest technology, helping our clients to achieve more, and we aim to support the local community as best we can. If there is anything, we can assist you with; please contact Andrew Lees Lettings today.