Now is the most expensive time ever to be a renter in modern Britain, with the average price of a rental property in Birmingham a record £1,213 per calendar month.
For landlords, the market is booming with demand higher than ever but supply falling further behind.
This has seen skyrocket prices, as average advertised rent outside of London have risen by 9.9 percent when compared with a year earlier.
consultants Capital Economics believe there will be demand for 1.8m new households over the next decade.
With demand high and supply low, tenants are under increasing pressure – with many feeling they are being taken advantage of.
Unlike in other parts of the UK such as Scotland, that asked all landlords not to evict a tenant because of financial hardship from Coronavirus, many in England saw rents increase.
In the current cost of living crisis, which has seen living standards plunge to the lowest since records began, renters need to know their rights.
5 laws tenants need to know
As a tenant living in a private property, both you and the landlord should have a co-signed agreement on your tenancy before moving in.
This should cover every aspect of your term in the property and lays out the responsibilities of you and your landlord.
Despite the contract, many tenants forget their basic rights.
Here five of the most important tenant laws you need to know:
- the right to live in a property that’s safe and in a good state of repair. Your landlord must maintain the property such as the roof, gas and electricity to make sure you are safe and everything functions properly.
- Returned deposit. Your deposit for the property must be returned without unnecessary delay at the end of the tenancy, minus a fee for any damage to the property – though you can challenge this.
- The right to live in the property undisturbed. A landlord, letting agent or any service agent must officially request access to the property no less than 24 hours in advance. Failure to do so is a major offence.
- The right to be protected from unfair rent and unfair eviction. You have the right to remain in the property for as long as your fixed contract states, on the same rent as agreed. You can only be evicted if you have severely broken the terms of the tenancy agreement.
- Tenant Fees Act. Under the act you no longer have to pay certain upfront fees when setting up a new tenancy agreement. This includes administration charges, referencing checks or inventory fees.