‘Landlords should not be expected to prop up the rental market’ Rishi Sunak economic statement – comments from Franz Doerr, flatfair

Franz Doerr, founder and chief executive of payment technology platform, flatfair, said: 

“The government has so far found billions to support businesses and the wider economy through the pandemic. But very little attention or support has been given to the private rental sector, with both landlords and tenants likely to be worrying about the uncertain outlook for the country as a whole.

“As the furlough scheme draws to a close, thousands of tenants and landlords alike are bracing for a long, hard winter of uncertainty — not to mention the prospect of evictions come early spring.

“The Chancellor should seriously consider offering tenants support like the Welsh government has through the introduction of a tenant loan scheme. Otherwise not only will many renters be facing uncertainty in the run-up to Christmas, but many buy-to-let landlords will be equally concerned about their income levels. Recent research found that private landlords with properties in England may have collectively lost up to £437m in lost rental income as a result of the coronavirus pandemic.

“While businesses have received billions in government support, landlords have received next to nothing — despite most relying on rental income as their main source of income. It is, of course, right to protect tenants but landlords should not be expected to prop up the rental market.”