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TODAY'S OTHER NEWS

Renters saved less than owners during lockdown restrictions

Government data shows that private renters spend a higher proportion of their budget on essential items that have not been cut back during the Coronavirus lockdown.

Renting households spend 61 per cent of their usual weekly budget on essentials, compared with 52 per cent for households who own their home outright or with a mortgage, according to data from the Office for National Statistics.

This is largely driven by housing costs, says the ONS, which account for 28 per cent of budgets for renting households and 21 per cent for homeowners.

“Our data also show that spending on activities including holidays and eating out is proportionally lower among renters, potentially limiting their ability to manage housing costs alongside a loss of income” says the ONS.

Franz Doerr, chief executive of deposit alternative service flatfair, says: "Renters do not have as much breathing room to cut back on spending, leaving them vulnerable to economic shocks. While it is positive that the government has further extended the moratorium on evictions, they cannot just keep kicking the can down the road. 

“Action needs to be taken to support tenants and landlords alike to communicate, and ensure that a fair and equitable solution is found in the unfortunate cases where a tenant cannot pay their rent.”

  • S l
    • S l
    • 12 June 2020 08:59 AM

    Hey Franz, you had gone bonkers. The renters thought they got free money for staying at home without working and had spent all their money on non essentials not essentials as they felt they dont have the financial pressure to pay rent due to the government silly policy to withheld rent for 3 months and believe me, I saw how they spent on paddling pools, toys to keep kids busy whilst they have a barbeque, tend to garden, buy flowers, wine, sweets all those items that I as a landlord had to forgo for myself and my children as I had the pressure of financial burden of both the rented house and my own which I wont be able to run away from unlike the renters who ran off the second the felt the court and bailiffs or utility companies are gaining on them. You have absolutely no idea how far the government had turned thousands into rogue tenants with their ways to so call support for tenants. Face it. Elsewhere if renters cant rent, GO HOME and live with your parents. Our government are not supporting renters or landlord. They are promoting leaches who relied on our government for them to have their freedom and independence from their parents without working hard or saving for it like landlords and homeowners do.

  • icon

    ..............“Our data also show that spending on activities including holidays and eating out is proportionally lower among renters, potentially limiting their ability to manage housing costs alongside a loss of income” says the ONS. And with this pandemic they have been unable to eat out and go on holiday etc etc. This get's the leaches back into a position where they can pay rent but won't pay rent.
    The sooner these parasites are sent on their way to the bridge under the motorway or the shop doorway the better. Let the council and government find them somewhere to live.
    Landlord's should do the right thing as has been suggested on these pages, get a credit search done first on them and a working guarantor on board otherwise say no.
    As SI says this plonker Franz is bonkers.

  •  G romit

    As Shelters' campaigning is behind much of this, and the are campaigning against "No DSS". So how about an alternative?

    "DSS Welcome with Shelter as guarantor"?

    Let them put their money where their mouth is.

  • PossessionFriendUK PossessionFriend

    So Tenants spend nearly 40% of their money on Non-essential items and can 't save or use some of that towards the rent !
    Seems like a shift in Priorities is needed.

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