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Majority of PRS tenants say rent provides value for money

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Majority of PRS tenants say rent provides value for money

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Published by Max Salsbury for 24dash.com in Housing and also in Communities

'Unfair tax treatment of private landlords costing £1,000 per tenancy' - RLA 'Unfair tax treatment of private landlords costing £1,000 per tenancy' - RLA

The majority of tenants in the private rented sector believe their rent provides good value for money, according to a new survey.

A poll by the National Landlords Association found that 73% of tenants rate their rent as ‘good’ or ‘very good’ in terms of value.

One in five (20%) perceived their rent as ‘poor’ value, while just 3% rated it as ‘very poor’.

The poll, which quizzed 550 tenants during October 2013, also found that the majority of PRS landlords haven’t increased rents in the last 12 months, with 72% of tenants reporting they’re paying the same rent as a year ago, while 3% said they were paying even less.

In total, 85% of tenants said they were happy with the length of their most recent tenancy agreement and 79% said that their tenancy was either renewed or continued on to a rolling statutory periodic tenancy at the end of the previous fixed term period.

Fewer than 2% of tenants said their landlord ended their last tenancy or felt they were forced to move out because of increases to their rent. And 3% said they decided to move on or end their last tenancy of their own accord.

Carolyn Uphill, NLA chairman, said: “It’s pleasing to see that so many tenants perceive their rent as good value because landlords face a lot of unjustified criticism for the rising costs of living.

“The NLA has long argued that rent levels in the UK are a consequence of a market economy, with the determining factor at present being a chronic undersupply of affordable housing, compounded by lethargic efforts on the part of Government to foster more construction.

“On the whole the findings are encouraging for tenants: they demonstrate that rents on private lets over the past year have remained fairly stable and show that, in reality, very few feel pressured to move out or actually have their tenancy terminated by their landlord – a common misconception.

“However, most important of all the findings suggest that the majority of landlords are in the business of providing good quality, affordable homes and are making sustainable tenancies a mainstay of most tenants’ rental experience."

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