Renters 'not second-class' - buy to let mortgages

08 December 2008

People that rent a home are no longer seen as "second-class citizens", a property expert has stated.

James Davis, the founder and chief executive officer at online resource upad, noted that it is becoming more common for people to rent rather than buy their own homes.

"Traditionally people used to only rent when they were at university," he said, adding that economic and social factors - such as a growing student population, later marriages and a flexible working culture - have influenced the change.

Renting also gives tenants the "opportunity to live in a place that they otherwise probably couldn't afford to live in", he remarked.

And he offered some advice to investors with buy to let mortgages, saying that prospective tenants will desire a parking space and wireless internet in their properties.

The average monthly rent that people paid in November stood at £617, according to Rentright's Residential Price Index.