Three quarters of landlords support tenants with the rising cost-of-living

Pressure amongst tenants has been mounting as fuel, household bills, and everyday essentials have hit eye-watering costs.

New research by Shawnbrook shows that 75% of residential landlords have taken steps to support tenants during the current cost-of-living crisis.

How landlords have provided a helping hand

To cope with pressures from inflation, 85% of tenants have made lifestyle changes.

A quarter (25%) have frozen rents, while 22% have offered a payment holiday to those who needed it. 22%) have offered those who are struggling with their finances a reduction in rent, and 19% have offered rent inclusive of bills.

14% of landlords have not made any changes in response to the cost-of-living crisis but are willing to do so if their tenants experience financial difficulties.

Over a third (36%) of renters surveyed s would consider asking for a reduction in rent, and 35% would consider asking for a rental holiday.

Energy upgrades to cut the cost

Over a quarter of landlords have made energy efficiency upgrades to help with rising energy bills.

By ensuring the home has insulation, double glazing, or a new boiler, landlords can help lower the energy used and the cost of bills.

Many landlords are already taking steps to improve their EPC rating due to rising energy costs