Tenants are Happy
The majority of tenants are happy tenants, according to a new survey by Paragon Mortgages.
The new survey discovered that 70% of tenants see their rental home as good value for money, while more than 80% of tenants are happy with their landlord.
Of those surveyed, 82% of tenants are happy to consider their rental property to be their home, and over 30% think they will stay in the private rented sector in the long term.
Some 57% of tenants are happy when offered a longer tenancy and, when having asked for an extension to their tenancy, 17% have had agreement from their landlord. However, some 12% of private rental tenants felt uncomfortable approaching their landlord about tenancy renewals. Only 6% of the survey had been refused a tenancy renewal by their landlord.
John Heron of Paragon Mortgages commented: “There has been a lot of noise around the need for longer-term tenancies for some time and I think there is a common misconception that landlords are not willing to be flexible in the tenancies they offer. Our landlord research demonstrates that many are more than willing to extend terms.”
The Paragon survey found that in 71% of cases the tenancy was ended by the tenant rather than the landlord.
In another piece of research from Allsop Property Consultants, the average length of tenant occupation in a given property has risen to 2.7 years, up from 2.5 years in 2014.
Victor Jameson of Cambridge letting agents New View Residential stated: “It is great to see some positive feedback from the property letting market. The fact that 80% of tenants are happy with their landlord is a very good sign and suggests that rogue landlords and dodgy letting agents are gradually being regulated out of the private rental sector.”
Original Article: http://www.rman.co.uk/latest-news
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