Tenants plagued by financial stress
Over half (54%) of renters have concerns about being unable to pay their rent due to financial difficulty, research from Intus Lettings has found.
The average rent contribution per month is £530, while half of tenants don’t believe their rental property is good value for money.
Hope McKendrick, head of lettings at Intus, said: “These findings are truly shocking and indicate just how vital the requirement for quality, affordable housing is within the UK.
“Everyone has the right to live comfortably without being stressed about whether or not they can manage financially and sadly, that’s not the case for many.
“There’s a real responsibility on landlords and developers alike to listen to the needs of tenants and act accordingly.”
Some 64% of tenants rent because they can’t afford a deposit to buy a property and over half don’t believe they’ll be in a financial position to do so within the next 10 years.
McKendrick added: “Renting is a perfect option for thousands of people and many have no desire to get on the property ladder, but we must also pay attention to those that use renting as a stepping stone.
“By ensuring rental fees are realistic, long-term tenants are considered, but also those individuals with plans to buy are given more of a chance to save for their next step.”