The cost benefits of furnished tenancies

Now we have published our Cost Benefit Analysis study, examining furnished tenancies but also local authority local welfare assistance schemes. We worked with North Tyneside Council and Onward Homes, using their data to feed into the model built by our research partner, Local Partnerships.

The research showed that every £1 spent by North Tyneside Council on its furnished tenancy scheme provides £13.50 to tenants, and £2.10 to the public purse, while being cost-neutral for the council. Onward Homes’ furniture gifting scheme returns £2.70 to the public purse for every £1 invested.  

The evidence continues to build: providing furniture has significant benefits to the landlord with reduced rental arrears, reduced void costs and increased tenancy sustainability, as well as these impressive returns across the wider public purse in areas such as the NHS, criminal justice and benefits.

But should we really need all this evidence and data? Surely the fact that children are sleeping on the floor or sharing airbeds with siblings, the fact that families can only prepare food that can be ‘cooked’ using a kettle because they haven’t got a cooker, and the fact that families shiver in homes with bare windows and concrete floors as winter begins to bite are enough to make us all start acting right now.

We’ve listened to landlords for many years now, trying to understand why they aren’t providing furnished tenancies, and even developed a new furniture rental scheme, Furniture Flex, which means a landlord can start a scheme within weeks with zero capital outlay.

“Too many of your tenants live without essential furniture and appliances, items that we all take for granted, but which are unattainable to those fleeing domestic abuse, coming out of temporary accommodation or homelessness”

Now I believe it is time for landlords to really listen to us. Too many of your tenants live without essential furniture and appliances, items that we all take for granted, but that are unattainable to those fleeing domestic abuse, or coming out of temporary accommodation or homelessness. They are being moved into empty boxes and it is simply not good enough.

It is time to put aside outdated attitudes about furnished tenancies and have another look. It is time to look at how many of your tenants are living in furniture poverty and we can help you to do something about it.

Here is the full quote from Danny Beales, MP for Uxbridge and South Ruislip, who himself lived in furniture poverty as a child: “It is a no-brainer to take action in this space. It financially makes sense, and it morally makes sense to take action to stop the devastating impact of furniture poverty and its long-term effect on the poorest parents and families.

“We know that needs to happen – now we have to make it happen.” 

I couldn’t agree more.

Claire Donovan, director, End Furniture Poverty