The oft-repeated and often politically-motivated claim that renters are desperate to get on the property ladder and unhappy with the quality of their home or landlord has been refuted by new research.
The Social Market Foundation (SMF) says most people who rent from a private landlord are content with what they get for their money.
The SMF report, which was commissioned by lender Paragon, found that 81% of renters said they are happy with their current property, and 85% said they are satisfied with their landlord.
Also, although the greatest source of dissatisfaction among tenants is all about ‘being a renter’, two-thirds say they are happy renting.
And the report suggests that where people are disappointed with the private rented sector it is not about their living circumstances, but about the fact of having to rent rather than own a home.
Finally, only half of renters expect to get on the property ladder during the next 15 years, suggesting that significant numbers will remain renters for long periods.
The SMF’s key recommendation is to enable renters to build wealth while remaining in the private rental sector, along with fixed-term contracts of 24 months, landlords allowing property alterations and pets, a Kitemark-style scheme that identifies the best landlords and tax breaks for those who invest in their properties.
Tired clichés
Paragon Bank’s Richard Rowntree says: “The outdated and tired clichés around privately renting need to be challenged and I welcome the findings from SMF’s report.
“In our experience, most landlords seek to provide a good quality home and enjoy a healthy relationship with their tenants; the significant investment in private rented property by landlords has helped drive up standards over the past 15 years and today homes in the sector are generally newer, larger and more energy efficient than ever before.
Aveek Bhattacharya, SMF Economist, and one of the report’s authors, adds: “Dominant cultural narratives about the private rented sector paint a misleading picture.
“In contrast to the horror stories that get wide circulation, the majority of renters are satisfied with their living conditions and have decent relationships with their landlords.
Read the report ‘Where next for the private rented sector?’ in full.
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