Can a Rent Freeze Really Help Britain’s Fear of Finances?

10 October 2022


Last month, Scotland announced a combined rent freeze and pause on evictions to help people through the cost-of-living crisis, but could this be a solution to the current growing crisis in Britain?

The rent freeze, introduced by the Scottish First Minister, Nicola Sturgeon, is set to help Scotland’s population deal with higher bills and living costs. From March 31st, 2023 the rent freeze will be introduced, and a moratorium on evictions and a new tenants’ rights campaign will be launched. With a £3 billion pot allocated for a range of support, many are hopeful that the freeze will positively impact their everyday lives.

So, what if we were to impose a rent freeze across Britain?

Journalist and member of the London Renters Union, Jazmyn Sadri’s recent opinion piece from The Guardian expresses how a rent freeze could positively impact Britain by “relieving pressure on millions of people struggling to pay their bills” and “repair some of the damage done by decades of government decisions.” 

Following King Charles’ opening of parliament to “strengthen the rights of tenants”, a rent freeze would be seen as a huge positive impact on tenants across Britain, but what about landlords?

A rent freeze will stop landlords from increasing rents, potentially putting landlords at risk when other inevitable rising costs that aren’t controlled place extra pressure on the economy. For many landlords, as renting is their main source of income, they may find themselves in a difficult situation if a rent freeze occurs.

At Wards, we know how important it is to keep your finances secure and healthy, and that’s why our experts in lettings can help you get the best price possible for your rental property, plus huge benefits to your landlord journey.

 

With us, you will have access to our amazing tenant and landlord hub with 24-hour access to your legal documents, our free tenant report service, and access to our expert lettings agents to help you with every landlord or tenant need!