75% of residential landlords have taken steps to support tenants during the current cost-of-living crisis, according to new research from Shawbrook.
With 85% of tenants having made lifestyle changes to cope with inflationary pressures, many landlords have been taking action to help. 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 haven’t made any changes in response to the cost-of-living crisis but say they would be willing to do so if their tenants are having financial difficulties in the future. 36% of renters surveyed said they would consider asking for a reduction in rent, and 35% would consider asking for a rental holiday.
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