Most Tenants Happy To Live In Rented Homes
Most tenants, particularly older renters, say they are happy to live in rented accommodation, a new survey reveals.
According to Landbay, they found that just 42% of those who rent are interested in buying a home at any point in the near future.
They asked 2,000 tenants around the country whether they wanted to buy a home and found the older tenants are the least interested.
Of these of those aged over 55, just 13% say they wanted to buy a home and for those aged between 35 and 44, 46% said they were interested in buying.
As should be expected, those aged between 25 and 34 saw 64% admitting they wanted to buy a home.
Landbay’s chief executive, John Goodall, said: "The research suggests that enthusiasm for home ownership could be waning.
"However, conversations in the private sector assume that most renters are biding their time until they can afford to buy a property, but the changing face of employment and the need for flexible living means renting is more attractive.
"Landlords should reflect this when dealing with tenants."
He also urged investment in the UK's private rental sector and says the government ‘must do more’ to encourage the building of purpose-built rental homes and ‘stop penalising landlords’.
Section 21 abolition will see a spike in homelessness
Meanwhile, it's been claimed that the abolition of Section 21 notices will see a huge rise in the number of homeless people.
The warning comes from Landlord Action, a tenant eviction specialist, who say that around half of the Section 21 cases they currently handle are due to tenants waiting to be re-housed by their local council.
The firm says that Section 21 abolition, and the expansion of Section 8 notices, could put tenants at risk of becoming homeless since local authorities will have no obligation to rehouse anyone with a rent arrears judgement.
The founder of Landlord Action, Paul Shamplina, said: "Councils will see someone having a rent arrears possession order, and will consider they have made themselves homeless.
“The council, therefore, will have no obligation to rehouse them as they do under Section 21 presently and if those tenants cannot find a home in the private rental sector, what will happen?"
He added that the abolition of Section 21 will lead to other unintended consequences, including vulnerable tenants struggling to find a home as landlords will become increasingly selective.
However, he said that the abolition will also see landlords leaving the market as they feel increasingly powerless when renting a property to a tenant.