The vast majority of tenants are satisfied with their current landlords, according to new research from Paragon Mortgages
The study – carried out in Q1 by BDRC Continental on behalf of Paragon – found that 81 per cent of tenants are currently satisfied with the levels of help and support they receive.
A similar number of tenants said they viewed their current rental property as their home while 70 per cent believe the rent they pay is either good or very good value for money.
The study also questioned tenants on their aspirations for the future, with one fifth saying they intend to buy their own homes and 35 per cent expecting to stay in the rental sector.
In terms of tenancy lengths, 57 per cent of those renting said they were happy with what was offered while 17 per cent revealed their landlord has agreed to a longer tenancy when requested.
Meanwhile 12 per cent of tenants said they were uncomfortable with approaching their landlord for a longer tenancy while six per cent were refused when they asked for a longer term.
Understanding what tenant’s want can enable buy to let landlords and property investors to provide housing options that suits people’s needs and increase the likelihood of uptake.
John Heron, Director of Mortgages at Paragon, said this helps to maintain standards in the private rented sector while also providing flexibility.
“I think there is a common misconception that landlords are not willing to be flexible in the tenancies they offer,” he explained.
“Our landlord research demonstrates that many are more than willing to extend terms and in 71 per cent of cases it was the tenant who chose to end the tenancy not the landlord.”
Mr Heron added that Paragon supports the Government’s new model lease to offer 36 month tenancies which can provide additional security and peace of mind for tenants.
15th June 2015