Tenants say they are satisfied with their private rented accommodation, according to a survey of more than 1,800 tenants and landlords.
The survey by Paragon Mortgages found that 79% of tenants surveyed said they were satisfied with their landlord and 85% said they consider their rented property to be their home. In addition, 67% of tenants say their rent is good, or very good, value.
The survey also found that the average time a tenant is spending in their rented property is around seven years, with the average length of time a tenant spends in the private rented sector adding up to nearly 13 years.
When buy-to-let landlords were questioned, 78% said that the private rented sector is to play a crucial role in providing housing for people in the UK.
Landlords say sector is to play an important role in providing homes
In addition, 89% of landlords said the sector will play an important role in providing homes for those who have been priced out of buying property, and 74% of landlords said the sector is playing a vital role in providing homes for those excluded from accessing social housing.
The director of Paragon Mortgages, John Heron, said: “The decline of social housing and the rise of the private rental sector has become predominant in the changing housing tenure in the UK for the last 20 years. The data also gives an insight into how landlords and tenants perceive these trends.”
He added: “It is good to see such high levels of tenant satisfaction, and the sector often suffers from negative PR despite the good work done by most landlord to provide homes for those who do not want to buy or who cannot buy their own home.”
Mr Herron also said that the private rental sector is increasingly helping to provide housing over the longer term for tenants, and professional landlords are helping to support the provision of homes to those who live in the sector.
Retirees opt to rent seaside homes
Meanwhile, it has been revealed that growing numbers of retirees in the UK are opting to rent a home by the sea because of soaring property prices. The research from Halifax reveals that property prices have risen by an average of 32% over the last 10 years in many seaside towns. This equates to £440 every month.
One reason for the growth is that the seaside towns generally provide pensioners with a better quality of life and are popular places for people to live in.
This demand for seaside properties is also helping to push up prices with those in Brighton rising by 59%. There were other big risers on the English south coast, also, including Whitstable in Kent and Shoreham-by-Sea in West Sussex.