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The changing face of the Private Rental Sector

Posted by jane on 7th March 2019
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“There are over 500,000 more households with dependent children living in the private sector today than in 2010/11.” 

It is funny how before the Thatcher years, so many families lived in a rented property, it was certainly the norm in the era of our grandparents.  If you turn on the TV on a Sunday evening and watch “Call the Midwife” it is unlikely you will come across many homeowners, it really wasn’t the ‘done thing’ in the post-war era.  Let’s face it, you were probably glad not to own property during World War ll.  Take a look at our European neighbours, their cities are full of rental homes, not home-owners.

So why does it feel so surprising that our Nation is becoming one of renters and not property owners?

Nearly one-quarter of new tenancies agreed in 2018 were for rentals where tenants included children in the household. In 2017/18 1.6 million households in the private rented sector included dependent children, up 37% from 1.1 million in 2010/11. The landscape is changing and this should not be viewed as a bad thing.  When you live in a rental property you know what outgoings to expect each month so it is easy to budget.  You don’t need a savings account for “a rainy day” when the boiler decides to pack up or the shower leaks through the ceiling.  You just need to call your Landlord or your managing agent, and it’s fixed.

So if you are considering giving up on being a property owner, and are thinking of becoming a tenant, put a smile on your face when you consider the additional disposable income you will have at your to enjoy life.  And, the freedom to move around much faster and with a lot less hassle than if you are secured to a home you own.

Contact our rental department for our current listings here.

 

 

 

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