Local trust essay: Incentivise Private Rental Sector
Research by Julie Aitken (2024)
My research was shortlisted in an essay competition run by Local Trust, CRESR, and Demos! Entrants were asked to write an essay of no more than 2500 words answering the question:
What is your policy idea for turning the most socially and economically disadvantaged neighbourhoods in England into thriving communities, what is the evidence behind it, and how might it best be successfully implemented with maximum impact?
My response explored the correlation between areas of multiple disadvantage and rates of private rental sector properties and what some simple policy solutions could look like.
A wee snippet…
Safe, secure, and affordable housing is fundamental to thriving communities. People experiencing socio-economic disadvantage often experience poorer housing conditions, insecure housing, and high rates of unaffordable housing (Mills, C. 2021). This is particularly apparent for people living in private rental sector tenancies which house a disproportionate number of people in low-income poverty compared with other housing tenures (Bailey, 2020; Kemp, 2011). This research demonstrates that England’s most socio-economically disadvantaged neighbourhoods have high levels of Private Rental Sector (PRS) homes. It proposes that funding landlord incentive schemes to increase homes let through Social Lettings Agencies (SLA’s) could cost as little as £0.55million presenting an affordable and achievable way for communities to thrive.