Rental growth must be balanced with an awareness of the financial challenges facing many individuals, Grainger’s Helen Gordon has said.
In a trading update this morning, ahead of its financial year-end at the end of this month, Gordon said the UK’s largest listed residential landlord had continued to grow rents at 4.5%.
“Momentum in the business is continuing to accelerate and our mid-market strategy and in-house scalable operating platform has delivered a strong performance,” she said. Occupancy remains at record levels at more than 98%.
“Despite the buoyant rental market, we are very mindful of the financial challenges facing many individuals,” Gordon added. “We are therefore taking a responsible approach to rental increases, ensuring affordability for our customers remains a central consideration and balancing rent increases with retention.”
She said Grainger would also support its customers “where we can with their other costs”, investing in energy efficiency and providing free broadband and complimentary gyms.
Grainger recently announced that it had made a £1,000 payment to all staff to help with the cost of living crisis.
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