Contrary to the impressions given in some quarters, no fewer than 75 per cent of tenants are happy to rent, and a third of those are happy to rent forever.
The figures come from specialist lender Landbay which has questioned 2,000 private tenants.
Men are more likely to be happy renting forever - 36 per cent against 31 per cent for women - while for those in the 55-plus age bracket nearly two thirds are also happy to remain tenants, while fewer than a third of 35 to 54 year olds are content renting - they are instead more likely to want to own a home.
Londoners also hanker more than most to own their own home with just 17 per cent happy to stay renting: at the other end of the scale some 46 per cent of Welsh tenants are happy to remain in the rental sector.
As for the motivations behind renting, the top three reasons are firstly “I don’t want to/can’t make the financial commitment of buying a home” followed by “I have fewer responsibilities than an owner” with third spot going to “I like the flexibility of renting.”
Landbay’s chief executive John Goodall says: “Renting affords significantly greater flexibility than home ownership and, at a time when house price growth is uncertain, remains the best option for a significant number of people. It’s clear from this data that those who choose to rent are happy doing so, and indeed would like to continue doing so forever.
“The financial hurdle of home ownership is for many too great a stretch and frankly they don’t want to make the commitment. The reality is owning a home isn’t the right choice for many, which is why the private rental sector needs to be supported properly if we are to house this growing portion of private sector tenants.”
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Very interesting and from my 70yrs of life experience, clearly about right.
When all said and done the number of tenants having or causing problems is very few indeed and because of that the whole system is being screwed over very thoroughly to earn a few votes for political fools/opportunists.
How do those renting for ever intend to pay their rent when they retire? The article seems to ignore ability to pay as part of the criteria. A naive article and a worthless piece of research.
I thought it was actually refreshing Mark to have a positive piece of research about tenants and renting. 2k tenants is a decent pool, unlike some of the negative 'research' that gets peddled out there- and those questions are also quite 'simple'. We get so little positive media let's not giving it a kicking too quickly. Surely, this should now be fed to the government to plan how they aim to support an ageing population in rented housing.
In Europe people rent for their entire life and the idea of buying a property in France is Alien to them.
I agree with Fred, its the minority of renter that cause the issues, isnt it the minority of anything that causes the issues for the majority to alter the way they act to accommodate them?
Kristjan, when you say 'aim to support' does that mean housing benefit?
LL AREN'T in the game to support ANYONE!
WE are in it for PROFIT FOR AS MUCH AS WE CAN ACHIEVE.!!
IF the by-product results in a tenant being provisioned a rental property then so be it.
But if a tenant retires and then can't afford the rent OUT they go!!!
NOTHING personal just business.
No sympathy at all for retirees.
Pay the rent or vacate.
HB won't be sufficient to pay the rent.
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