Recent analysis of the rental sector carried out by leading UK independent research consultancy BDRC Continental shows the vast majority of UK tenants to be happy with their landlord, properties and the way their tenancies are managed. Most of the tenants in the private sector said they believed they were receiving good value for money and expressed positivity towards renting on the whole.
The analysis reported a rise in the overall satisfaction of tenants, with 80% claiming to be more than happy with their landlords and 87% of tenants regarding the rental property as their home rather than a temporary arrangement. The research also showed the average duration of tenants living in rented properties to be seven years with the longest stay typically standing at approximately 12 years.
The private rental sector has altered considerably as a result of many changes to the property market and personal lifestyles, with a large proportion of people preferring to rent rather than buy. Over 35% of tenants surveyed stated their intentions to keep renting instead of purchasing a property further down the line.
The research, which was commissioned by Paragon Mortgages, directly polled tenants in order to gain insight into their experience of renting. The survey successfully identified very high levels of tenant satisfaction, an appreciation of value for money and the positive impact of effective property management on the sector as a whole.
Landlords can benefit from targeted tenant research. If you are a landlord or investor it makes a lot of sense to understand exactly what it is that tenants are looking for. The key to successful and stress free tenancies is establishing a good relationship with your tenant and ensuring that the property is safe and well maintained.
Investment in the rental market can offer many landlords and developers a prosperous long term future. The issue for many people is finding the time to manage their properties. We can handle property, tenancy and block management in Hillingdon and across the rest of London, and even provide our landlords with a guaranteed monthly income without any of the worries and hassle. We make sure you enjoy the maximum rental amount and we deal with everything from inspections, repairs and council tax to tenant placements, changeovers and renewals.