One-in-three tenants happy to rent long term
More than one-in-three tenants in Britain say that they would happily rent long term rather than buy a home because they like the flexibility and are put off by high property prices, a new survey has found.
Respondents were asked how long they had been renting for, with 43 per cent saying they had done so for six to 10 years, 28 per cent for up to five years and 15 per cent for 11 to 15 years and the average monthly rent paid by them was £650.
Just over half, some 52 per cent, said that they were currently happy with renting, with the remaining 48 per cent admitting they were not happy with their current situation.
They were also asked if they would be happy renting for the rest of their life to which 35 per cent said they would be.
The top reason for renting was being able to move easily with 39 per cent citing this, followed by 27 per cent saying that property prices are too high, while 14 per cent said they like not having to worry about repairs, 9 per cent do not want to live anywhere permanently and 6 per cent said they think buying a house is too stressful.
When asked why they would not be happy renting forever some 34 per cent said this was due to a lack of tenant rights, 31 per cent said they are concerned about stories of people having bad experiences with landlords and 26 per cent said the rising cost of renting a home.
The survey also found that 91 per cent of respondents believe that landlords should not be able to evict tenants unless they break the law and 89 per cent said they think landlords should be made to give at least six months’ notice prior to eviction.
Some 63 per cent think that tenants should be given first right of refusal if their landlord decides to sell and 97 per cent believe renting rights in the UK could be improved, with 19 per cent saying they believed them to be one of the worst in the world.
"We hear so much about how more people have to rent long term because they can’t get on the property ladder, but it’s interesting to see how many are actually happy with renting," said spokesperson Tara Hall.
"Owning a property isn’t for everyone, especially if you like not being tied down or don’t want to spend months and months saving for huge deposits," she added.