Landlord group joins forces with charities to push for more support for young people who face losing their income and potentially their jobs this summer
Scores of young renters will struggle to pay their rents as the furlough scheme is wound down, homeless charities warn.
Together with The National Residential Landlords Association (NRLA), Crisis and Centrepoint are calling on the Government to boost the safety net available to young renters before the Government’s subsidy – currently 80% of wages – starts to drop.
The NRLA’s research shows that 24% of private renters aged 16-24 and 27% of those aged 25-34 are reliant on the Coronavirus Job Retention Scheme. It says young renters have taken the largest hit to their incomes of any age group; 56% of 16-24 year olds report that their incomes haven’t been affected as a result of COVID-19, while 76% of those aged 65-74 say they haven’t been badly hit. Despite this, 84% of 16-24 year olds and 87% of those aged 25-34 have been able to pay their rents as usual. It says this proves how reliant they are on Government support to make ends meet.
Following the decision to increase the Local Housing Allowance to cover the bottom 30% of rents, the NRLA wants ministers to now go further by suspending the benefit cap. It also wants advance loans given to Universal Credit claimants to cover the five-week waiting period to receive the first payment of the Credit converted to grants.
NRLA chief executive Ben Beadle says: “Both tenants and landlords need the security of knowing rents can continue to be paid, just as with mortgages and rents for social housing.”
Together with the Chartered Institute of Housing, The Property Redress Scheme, My Deposits, the Tenancy Deposit Scheme and ARLA Propertymark, the NRLA has launched new guidance offering practical ways for landlords and tenants to address arrears building as a result of the pandemic.