Expert touts rented accommodation

The chief executive of the RSA has called for a change of attitude towards rented accommodation.

Matthew Taylor, writing in the Times, explained that the British psyche has for too long equated property ownership with success.

He said that people should feel no shame in renting, given that the recent property market crash has indicated that houses may not be as safe an investment as people think.

However, Mr Taylor suggested that "new models of investment in private renting" are needed.

"Most private rented housing comprises single units on short-term leases," he wrote.

"We need larger developments with shared facilities, such as gardens and gyms, and good estate management."

The property market downturn has led to many people becoming "accidental landlords", a group of individuals who have moved home but are unwilling to sell their old property while prices continue to fall.

Instead, these people have turned to the rented market to supplement their income while the market is weak.

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