Fears over rental property shortage

As a worsening shortage of rented accommodation is announced by the Residential Landlords Association (RLA), Rick Flay, director at Belvoir Sheffield, the leading lettings agent in Sheffield is warning that the availability of shared housing needs to be significantly increased.

Last year’s spending review changed the age limit at which those on housing benefits can claim only for a room in a shared house and not for their own self- contained property from 25 to 35, which was expected to take effect in April 2012.

Last week the Welfare Reform Minister, Lord Freud announced that this change will be brought forward and implemented in January 2012, sparking fears that a rental accommodation shortage is imminent.

Rick, from Belvoir who specialise in providing flats to rent in Sheffield, said: “This latest Government announcement comes at a time when many Council’s are reducing the amount of new shared accommodation, yet the Government is increasing the age limit.

“On a first glance these changes seem like a step in the right direction, but on paper it is an entirely different picture. It has been reported that the Government estimates that some 88,000 people aged 25-34 will now have to look for shared accommodation, but according to the RLA this number is closer to 1.16 million tenants, resulting in a huge shortfall.”

Powers being previously granted by the Government mean that over 25 local authorities UK wide have already prevented planning applications to change properties into shared housing, with many more expected to follow suit, adding to the shortage of shared housing.

Rick, whose letting agency on Campo Lane in Sheffield, specialises in Property to rent in Sheffield, added: “To ensure that the new age limit works effectively, the Government needs to prevent the planning powers already in place and remove any restrictions on creating more shared accommodation.

“Until this is executed, the UK is in real danger of suffering a rental property shortage which will inevitably hit the younger generation the hardest.”

Belvoir Lettings Sheffield is the One Stop Specialists for Lettings including Property Management, Tenant Find, Investment and Wealth Management Advice, Fit-outs and Renovations, Furniture Packs and Investment Property Insurances

For more information, visit: belvoirlettings.com/sheffield