9th
Oct 2015
Research carried out by a mortgage company claims that 87% of tenants accept and regard their rented property as their home.
Tenant and landlord relations are excellent as 80% of the tenants polled reported that they are happy with their landlord. This is reflected by the survey’s figures on average length of tenancies as being seven years, and the average length of time that individuals have been privately renting homes is twelve years.
The tenants that took part also commented on their future housing plans, with more than a third accepting that private renting a home is their preferred option. Nearly a quarter of respondents (24%) have aspirations to buy their own home.
Those who blame house prices being the main reason as to renting their home now have grown slightly, from 69 per cent to 74 per cent. Despite this, 65 per cent of tenants perceive their rental payment to be, in terms of value for money, considered either ‘good’ or ‘very good’.
Managing Director of the mortgage company that carried out the survey, John Heron, said: “This research provides a valuable insight into the sector. There are many surveys of landlords and many academic reports on the PRS. There are, however, too few surveys that poll tenants directly on their experience of renting privately. This survey has identified high levels of tenant satisfaction and an appreciation of the good value that rented accommodation can offer across the country. It is more disappointing though to see that affordability constraints are impacting negatively on future choices in housing with less than a quarter of tenants expecting to buy their own home in due course.”
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