UK tenants are positive about renting, survey finds

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30th October 2015 12:23 - Housing

A recent survey has revealed that the vast majority of UK tenants in the private rented sector are happy with their current landlord, however, 5 UK tenants are positive about renting, survey findsper cent were declined a longer term tenancy.

Of the tenants surveyed, 65 per cent believe that their rental payments are either ‘good’ or ‘very good’ value for money and also have a positive attitude towards renting.

Commissioned by Paragon Mortgages, the survey also found that there has been a rise in tenant satisfaction, with 80 per cent of people being happy with their current landlord and 87 per cent now viewing their rented property as their home, as opposed to somewhere to live in the short term.

The survey also revealed that the average length of time the respondents had lived in their current rented property in the second quarter of 2015 was seven years, with the average stay in the private rented sector being 12 years.

Of the respondents, 35 per cent said that they expect to carry on renting a property, whereas 24 per cent intend to buy their own house in the future. The amount of people who cited the high house prices as the reason why they privately rent has increased from 69 per cent to 74 per cent.

Managing Director of Paragon Mortgages, John Heron, said of the findings:

‘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,’ he added.

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