10:58 AM, 8th October 2015, About 6 years ago 5
The majority of tenants in the UK private rented sector are pleased with their current landlord, according to new research.
Only 5% of tenants have refused a longer term tenancy, revealed a study commissioned by Paragon Mortgages.
There has reportedly been a rise in tenant satisfaction, with 80% satisfied with their current landlord and 87% of tenants now regarding their rented property as their home, rather than a short term arrangement.
65% of tenants have a positive attitude towards renting and believe their rental payment represents ‘good’ or ‘very good’ value for money.
A spokesperson for Discount Insurance said: “This research provides a unique and valuable insight in the sector from a tenant’s perspective. It is clear that there is accommodation of a good value and satisfactory level in the private rented sector.”
The research also revealed that in the second quarter of 2015, the average duration of tenants living in their current rented property was 7 years, while the average total stay in the private rented sector was 12 years.
In regards to long term housing plans, 35% of participating tenants intend to remain within the private rented sector and 24% intend to buy a house in the future.
The amount of respondents citing unaffordability of housing as the reason for renting privately has increased from 69% to 74%.
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