tenant - homelet · 2020-01-03 · in 2017, 76.3% of tenants feel the rent they pay represents...

TENANT

Survey of the UK’s tenants provides key insights into the UK’s private rented sector

Survey2017

Key headlines • Of the 20,388 respondents, 68% of tenants surveyed expect to be renting for a year or longer and 24.1% didn’t know how long they might be renting for

• Almost a half of tenants (46.7%) are currently saving to buy a home; the primary reason given for not buying yet was high house prices and deposit levels

• The largest household type is ‘couple, with no children’ (34%) followed by ‘couple, with children’ (22.2%) and ‘single person household’ (18.7%)

• Overall, 30% of households that rent privately have children

• 72% of tenants stated that they were ‘very happy’ (41%) or ‘quite happy’ (31%) with the landlord or organisation that manages their property

• 50% of tenants feel the rent they currently pay represents ‘very good value for money’ or ‘quite good value for money’

• The top three elements that tenants like most about renting are the flexibility to move easily, property location and the ease of property maintenance

HomeLet Tenant Survey 2017

Page 1

Age Male Female Total

18-20 0.7% 1.3% 2.0%

21-25 6.8% 10.3% 17.1%

26-30 10.4% 12.8% 23.2%

31-40 12.8% 14.2% 27.0%

41-50 7.2% 8.4% 15.6%

51-60 4.5% 5.2% 9.7%

60+ 2.9% 2.5% 5.4%

Total 45.3% 54.7% 100.0%

About the tenants surveyed Our survey spanned the entirety of the UK and covered a vast variety of age groups, which allowed us to gain an accurate representation of tenants’ views on the private rented sector, across a number of demographics.

Age and gender of tenants

Background Survey of the UK’s tenants provides key insights into the UK’s private rented sector.

We recently surveyed tenants for their views on the private rented sector to better understand their experiences. The survey, conducted in January, received 20,388 responses. Tenants were asked for their views on the UK’s rental market, their experiences with their landlord/letting agent and their preferences when renting property.


Page 2

Which best describes your household?

35%30%25%20%15%10%5%0%

Couple, no children

One person

Couple, with children

Sharing with other tenants

Other

Lone parent, with children


29.5% of households have children

34.0%

22.2%

18.7%

14.7%

3.0%

7.3%

Page 3

Thinking about the last time you moved between rental properties, which of the following applied to your situation?

It was my own decision to move

This is the first rental property I’ve lived in

I received notice to quit from my landlord or managing agent

Other

60% 80%40%20%0%

Age of tenant

18-25 26-30 31-40 41-50 51-60 60+ Unknown Overall

I received notice to quit from my landlord

or managing agent6.5% 9.9% 14.3% 17.6% 18.3% 16.0% 15.1% 13.0%

It was my own decision to move

62.6% 71.0% 67.1% 57.0% 52.0% 47.8% 59.4% 62.7%

This is the first rental property I’ve lived in

28.0% 16.0% 14.6% 21.1% 25.5% 30.0% 20.9% 20.4%

Other 2.9% 3.1% 4.0% 4.3% 4.3% 6.2% 4.6% 3.8%

Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%


Rental situation by age group

62.7%

20.4%

13.0%

3.8%

Page 4

About the landlord/letting agent Are you happy with the landlord or organisation that manages your property?

Of the tenants surveyed, 63% said a letting agent managed their rental property, compared to 32% who said a private landlord managed their property (5% stated other organisations).

Overall, our survey revealed that 86% of tenants were either ‘very happy’, ‘quite happy’, or ‘somewhat happy’ with the landlord or organisation that manages their property.

This reaffirms the findings of our landlord survey, where 96% of landlords were happy with their tenants. Overall, the relationship between landlords and tenants seems mutually beneficial.

Very happy 41%

Somewhat happy 14%

Quite happy 31%

Not really 9%

Definitely not5%

Are you happy with the response to maintenance requests?

75% of tenants stated that they were either ‘very happy’, ‘quite happy’, or ‘somewhat happy’ with the response to maintenance requests.

Very happy 30%

Somewhat happy 18%

Quite happy 27%

Not really 14%

Definitely not11%


Page 5

Deposit12.5% of tenants stated that they’ve had a deposit withheld.

What was the reason your deposit was withheld?

Cleaning

Re-decorating costs

Landlord didn’t provide a reason

Damage to landlord’s fixtures and fittings

Carpet damage

Damage before moved in

State of garden

Damage to landlord’s furniture

Rent arrears

Fraud

Other

0% 5% 15%10% 25%20% 35%30% 40%

39.1% of tenants ticked ‘yes’ to having their deposit withheld because of cleaning.

577 tenants stated ‘other’ reasons for why their deposit had been withheld; there was a range of reasons, particularly mentioning disputes with their landlord/letting agent.


39.1%

19.3%

18.7%

16.1%

13.1%

12.7%

4.8%

7.7%

4.0%

27.8%

10.2%

Page 6

Right to Rent Are you aware that you’re required to provide evidence of your Right to Rent in England and Wales?

When you moved into your current rental property, did your landlord or letting agent ask to see any documentation for Right to Rent checks?

No

49.3%

Yes

45.8%

I live outside of England and Wales

4.8%

I moved into my current rental property prior to February 2016

Can’t remember

11%

27%


Yes

36%

No

26%

About the property Are you happy with the standard of your rented home?

Overall, our survey revealed that 85% of tenants stated that they were either ‘very happy’, ‘quite happy’, or ‘somewhat happy’ with the standard of their rented home, this is comparable to the sentiment of tenants in 2015 (86%).

Very happy 27%

Somewhat happy 21%

Quite happy 37%

Not really 10%

Definitely not4%


No pets

43.6%The tenancy agreement

doesn’t allow pets

Dogs & Cats

2.0%

Other pets

3.3%

Which of the following pets do you have in your rental home?

No pets

33.3%By choice

Dogs only

9.3%Cats only

8.5%


Views on renting What do you like MOST about renting?

Flexibility to move easily

The location of the property

The ease of property maintenance (if there’s an issue)

Less financial responsibility (for example no mortgage)

Living in a larger / nicer property than I could afford to buy

Sharing (companionship)

Other

0% 5% 15%10% 25%20% 35%30%

Couple, no

children

Couple, with

children

Lone parent,

with children

One person

Sharing with other

tenants

Other Overall

Flexibility to move easily 27.9% 23.9% 21.5% 31.8% 26.4% 22.6% 26.9%

The location of the property 19.4% 19.0% 20.9% 21.0% 16.3% 17.6% 19.2%

The ease of property maintenance (if there's an issue)

15.9% 17.0% 23.1% 14.8% 8.5% 12.6% 15.3%

Less financial responsibility (for example no mortgage)

14.7% 11.0% 12.1% 16.1% 14.8% 14.3% 13.9%

Living in a larger / nicer property than I could afford to buy

11.4% 16.2% 10.1% 7.0% 13.6% 12.0% 11.9%

Other 8.8% 12.3% 12.4% 9.2% 7.2% 17.8% 10.0%

Sharing (companionship) 1.9% 0.7% 0.0% 0.1% 13.2% 3.0% 2.8%

Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%


26.9%

9.9%

13.9%11.8%

2.8%

15.3%19.3%

What do you like MOST about renting: By household type

Do you think the rent you pay represents value for money?

34.1%15.5% 26.7% 18.0% 5.8%

In 2017, 76.3% of tenants feel the rent they pay represents ‘very good value for money’, ‘quite good value for money’ or ‘somewhat good value for money’, this is comparable to the sentiment of tenants in 2015 (75.1%).

Tenant age Not value for money Good value for money Total

18-20 19.2% 80.8% 100.0%

21-25 20.8% 79.2% 100.0%

26-30 22.7% 77.3% 100.0%

31-40 27.1% 72.9% 100.0%

41-50 25.8% 74.2% 100.0%

51-60 22.8% 77.2% 100.0%

60+ 16.4% 83.6% 100.0%

Overall 23.7% 76.3% 100.0%

QuiteVery good value for money

Somewhat Not really Definitely not value for money


Do you think the rent you pay represents value for money: By age

How affordable would you say your rent is?


23.7%7.0% 54.0% 12.1% 3.2%

84.7% of tenants stated that their rent is ‘very affordable’, ‘quite affordable’ or ‘manageable’.

Affordable Manageable Unaffordable Total

Northern Ireland 44.0% 48.8% 7.2% 100.0%

East Midlands 43.5% 48.8% 7.8% 100.0%

North East 42.5% 49.9% 7.7% 100.0%

Yorkshire & Humberside 41.6% 50.6% 7.8% 100.0%

Wales 40.8% 51.2% 8.0% 100.0%

North West 39.9% 49.0% 11.1% 100.0%

Scotland 38.3% 54.5% 7.2% 100.0%

West Midlands 36.4% 54.1% 9.5% 100.0%

East Anglia 31.4% 53.8% 14.8% 100.0%

South West 30.3% 57.9% 11.8% 100.0%

South East 25.3% 56.2% 18.5% 100.0%

Greater London 17.6% 56.3% 26.1% 100.0%

Overall 30.7% 54.0% 15.3% 100.0%

Quite affordable

Very affordable

Somewhat Quite unaffordable

Very unaffordable

How affordable would you say your rent is: By location

When thinking about choosing your rental home, please rank the following in order of importance:

% of tenants ranking the factor as important (1 or 2) Household with children

Rental cost

Local school

Parking

Distance to work

Attractiveness of surrounding area

Low crime rate

Public transport / airports

Local amenities

0% 10% 30%20% 50%40% 70%60% 80%

Rental cost

Distance to work

Parking

Attractiveness of surrounding area

Public transport / airports

Low crime rate

Local amenities

Local school

0% 10% 30%20% 50%40% 70%60% 80%


65.2%

35.6%

24.7%

23.5%

21.6%

19.4%

11.2%

12.5%

70.0%

40.2%

24.4%

22.8%

20.7%

13.4%

5.1%

12.9%

% of tenants ranking the factor as important (1 or 2) Household without children

Intentions for the future How long do you intend to continue renting?

Less than 6 months One year One to three years Longer than three years

Don’t know

8.0% 13.1%

33.5%

21.3%

24.1%

68% of tenants plan to continue renting for a year or longer.


If you’re saving to buy a home, what’s the MAIN reason you’ve not yet bought?

60%50%40%30%20%10%0%

High house prices (and deposit level)

Unable to save for the initial deposit and fees

I can’t meet the mortgage lending requirements

Availability of property to buy in the area I’d want to

Not enough money for monthly mortage payments

of tenants are saving a deposit to buy a home

46.7%


13.1%

9.8%

3.9%

25.1%

48.0%

Buying a home


18-20 21-25 26-30 31-40 41-50 51-60 60+ Unknown Overall

It’s my lifestyle at the moment – but I’ll want to buy at some time

in the future59.6% 77.4% 78.6% 71.3% 54.7% 41.1% 24.8% 54.7% 65.4%

Either because of choice or circumstances, I’m a short term renter – in terms of the options

25.6% 16.1% 14.5% 18.7% 27.2% 37.1% 46.4% 26.3% 22.2%

I have no preference as to whether I rent or not

14.7% 6.5% 6.9% 10.0% 18.0% 21.8% 28.8% 19.1% 12.5%

Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

With regards to renting, which statement describes you the best?

70%60%50%40%30%20%10%0%

It’s my lifestyle at the moment - but I’ll want to buy at some time in the future

Either because of choice or circumstances, I’m a short term renter - in terms of the options

I have no preference as to whether I rent or not 12.5%

22.2%

65.4%

Couple, no

children

Couple, with

children

Lone parent,

with children

One person

Sharing with other

tenants

Other Overall

It’s my lifestyle at the moment – but I’ll want to buy at some time

in the future70.6% 66.4% 57.9% 55.7% 69.9% 56.6% 65.4%

Either because of choice or circumstances, I’m a short term renter – in terms of the options

18.4% 21.9% 25.3% 28.1% 20.8% 29.0% 22.2%

I have no preference as to whether I rent or not

11.0% 11.7% 16.8% 16.2% 9.3% 14.4% 12.4%

Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

With regards to renting, which statement describes you the best: By household type

With regards to renting, which statement describes you the best: By age group

HL4

737

02/1

7With 25 years supporting the industry, HomeLet is one of the leading sources of supportfor the UK’s vibrant private rented sector. Part of the Barbon Insurance Group, we’re basedin Lincoln, with more than 300 members of staff working hard every day to support lettingagents, landlords and tenants.

About HomeLet

For more information on the rental market please visit

homelet.co.uk/homelet-rental-index

tenant - homelet · 2020-01-03 · in 2017, 76.3% of tenants feel the rent they pay represents...

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