It’s good news for landlords as a survey conducted by the Deposit Protection Service (DPS) has uncovered that two in five renters are not looking to buy a property and instead intend, consider renting a home to be a long-term plan.
From those who intend to buy, 62% stated that they do not expect to own a property within the next year and a quarter stated that they hoped to purchase a property within 6 months.
Of course, with buying a home being a major financial commitment, renting also suits those saving for a deposit before taking on a mortgage.
In terms of housing, it’s now recognised that the UK needs a flexible housing sector that suits the varied life choices and priorities of an increasingly diverse population and the rental sector plays an important role in offering quality housing in areas where shortages are occurring.
The survey reflects Redstones own observations. Managing Director of Redstones, Manjit Virdi says, “The number of tenants we are taking on is on the increase. We are finding that many people choose to be tenants as it better suits their plans or lifestyle, enabling them to be flexible.”
With demand at an all-time high, so is the potential for attracting high quality tenants. At Redstones, we attract landlords through our ‘Switch Agents’ programme, which ensures that new business is gained on the quality of service delivered. The programme makes it easy for landlords to switch their property or property portfolio to Redstones if they’re dissatisfied with their current agent.
Another favourite for landlords, Redstones Platinum Total Care ensures the landlord’s rent is paid on the date it is due, regardless of whether the tenant has paid on time.
Redstones also advises many landlords on property management, helping them to grow their portfolio without the time-consuming difficulties attached with managing property.
Alternatively, if you’re a tenant looking for a new home, find out more about what’s involved when renting through Redstones.