Aiming to improve the relationship between private rent landlords and their
tenants
, Housing Hands carried out a survey
to understand the needs of renters.
Over 1,700 tenants were asked as well as students and working
professionals, the report has highlighted some “major gaps in renters’
knowledge, across topics from guarantors and deposits to joint tenancies and
utility bills.”
Housing Hands says, “Renters are typically confident entering the rental
process: 73% of those we surveyed consider themselves financially literate
when it comes to renting. But when we delve further, it’s clear that most
of their knowledge comes from personal experience and they aren’t as well
prepared as they think.”
With the proposal of the Renters’ Rights Bill, tenants are more uncertain
now than ever about their rights. Some younger renters such as students are
unaware of how the new RRB could benefit them and so have admitted they are
hesitant about backing the new legislation.
The report showed that “Most renters aren’t aware of it, and even fewer
understand how it’ll affect them.”
Renters’ Rights Bill
Out of the entire survey, “69% of renters haven’t heard of the Renters’
Rights Bill” and “75% of renters don’t understand how the Renters’ Rights
Bill may impact them.”
The groups least aware were “Students (27%), and particularly international
students (26%).”
Those who watch the news seemed to be more aware of the effects and that it
would mean the end of fixed term tenancies.
However, “There was confusion about how the Bill would affect joint
tenancies, with concern that one tenant giving notice could end the tenancy
for all, leaving tenants in shared homes in a precarious position.”
Despite an overall agreement that the Renters’ Rights Bill “is a good thing
for renters,” some participants were worried that landlords might increase
the price of rent or sell off their properties (leaving them with nowhere
to live), with some sharing stories of people they know this has happened
to.
Housing Hand says in the report, “If this response is widespread, renters
fear it could exacerbate existing issues with high rents in sought-after
areas by reducing the number of properties on the rental market.”
How to make renters feel more secure
The report advises that landlords should tell tenants how the changes to
the new renting system will affect them in order to make renters “feel safe
and supported, ensuring a friendly relationship and reducing the likelihood
of future disputes.”
Landlords are also told that they need to find a way to make their tenants
trust them, “First time renters rely so heavily on the information given
from the landlords, but they’re strangers, so you don’t know if you can
trust them or not.”
How renters feel when looking for a first-time property
Housing Hands’ report shares that only 5% of first-time renters feel
confident and just 2% feel knowledgeable. Much larger numbers feel
overwhelmed (25%), uncertain (22%) and anxious (21%.)
Some are concerned that when they find the property that suits them, they
won’t be accepted by the landlord. Respondents even had examples of when
they had found properties, rushed home to make an offer and missed out as
it was taken by someone else.
How did people find their current accommodation?
19% student accommodation website.
4% university/ student union recommendation.
Other takeaways
Finding a guarantor can be difficult for some students and so they feel
their only option is to find a property that doesn’t require a guarantor.
The survey showed that 38% wished there would be a guarantor service that
could help them out, this might even boost awareness of the fact that a
guarantor is often needed to rent properties.
When deposit protection schemes were discussed, 46% admitted they didn’t
know how they worked. The report advises that, “Providing this information
earlier in the process can give renters confidence that being asked for a
deposit is legitimate and it won’t be unfairly withheld, especially
first-time renters or those who’ve had bad experiences in the past.” Doing
this could help landlords avoid potential tenants exiting the renting
process when asked for a deposit. On top of this, 65% aren’t aware that
deposit-less renting schemes exist.
With the new Renters’ Rights Bill looming, 56% don’t know what happens if
housemates want to move out at different times and question if they will
still have guaranteed accommodation if this happens.
Key statistics for student accommodation providers
To place an easier limelight on what accommodation students look for, here
are the latest statistics from the report:
– 40% of students live in a shared house,
– 30% live in a home/studio alone,
– 23% live with friends,
– 67% would prefer to pay their rent monthly (compared to 29%
who want to pay termly.)
Read the full report
here
.
