London’s temporary accommodation (TA) market is undergoing rapid change, creating a valuable opportunity for landlords and agents to partner with Apex Housing Solutions and local authorities and address the growing housing crisis. With boroughs currently spending £90 million each month on TA, the demand for reliable housing is higher than ever.
As of early 2024, 61,810 households – including 83,410 children – are living in TA managed by local authorities.
The rising demand for TA has led to a 6% increase in households using these services over the past year, and a staggering 73% increase since 2011. With the need for quality, stable housing projected to keep growing, there is a clear opportunity for landlords to secure stable income while supporting the housing needs of local communities.
Why TA is a Long-Term Investment for Landlords
Although temporary accommodation is typically seen as short-term, the reality in London paints a different picture. Most households stay in TA for extended periods, with Shelter reporting that 79% of households remain for over a year. In London, the duration is significantly longer, averaging five times the length of stays elsewhere in England. This means TA, while labelled as temporary, often provides landlords with long-term rental stability.
As demand for TA continues to rise, landlords who collaborate with partners like Apex Housing Solutions are well-positioned to benefit from a steady income stream while helping to meet the urgent housing needs faced by local authorities.
How Letting Your Property to Apex Housing Solutions Can Support Local Authorities
Apex is committed to helping local authorities meet the growing demand for temporary accommodation by offering landlords and agents an efficient and reliable service. As councils face increasing pressure to secure housing at short notice, Apex provides a seamless solution by managing properties and securing long-term agreements with landlords. This ensures that landlords receive guaranteed, hassle-free rent, while local authorities gain access to much-needed housing stock.
For landlords, Apex eliminates the usual concerns associated with letting properties, such as vacancies, property damage, or rental arrears, by handling everything from tenant management to maintenance. For local authorities, this represents a valuable opportunity to collaborate with a trusted partner that understands the complexities of the market and works to ease the burden of sourcing accommodation.
The Time is Now for Local Authorities and Landlords to Act!
With London’s TA market set to expand further as demand continues to rise, the need for collaborative solutions is critical.
Apex is committed to supporting local authorities as they navigate the housing crisis, providing the high-quality service needed to address urgent housing demands. For landlords and agents, now is the time to act and take advantage of the opportunities within London’s temporary accommodation market, working together to provide essential housing and secure a brighter future for communities across the city.
If you’re ready to explore new partnerships and secure vital housing, Apex Housing Solutions is here to help.
Email us at lettings@apexhousingsolutions.co.uk
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