“Hey Ted, you remember how much we used to hate going to the old kennel?”
“Yeah I remember Smudge. I think I hated that place more than the hoover.”
“Remember that time Jeff the spaniel came over and pee’d in my bed, then he started chewing the drywall?”
“I certainly remember that the kennel owner made mum and dad pay for the damages, even though it wasn’t our fault!”
“Man, imagine if we had to live there all the time. It was horrible.”
“It would be dreadful, wouldn’t it? Thank goodness our new kennel is so lovely – soo many belly rubs and treats – it’s just like being in our own home!”
“That’s the thing, Ted, now there are so many people who can’t afford to buy their own property, renting is increasingly looking like a permanent solution – and sometimes at kennels like our old one!”
“I read recently that 51% of Britains think the property ladder will only be possible for powerful and wealthy people in 15 years! ”
“Over 70% said they’d be unhappy at the prospect of renting forever…. They must have neighbours like Jeff too!”
“Well, we can at least take comfort in the fact that there are letting agencies like Maxine Lester Residential around to make sure that tenants and landlords have a really good experience.”
“Yes! If only all agencies were as dedicated to customer service as Maxine’s team are.”
From a recent study, by The Urban Collective, it has been determined that there is a growing number of young British adults who are giving up hope of ever owning their own property. The startling survey has revealed that many of the ‘Generation Rent’ Britons would love to become homeowners, but they firmly believe they will never be able to raise the funds to get onto the property ladder. In fact, 51% of British people think that within 15 years only high worth individuals will be able to scale the housing ladder. 29.5% of tenants interviewed, stated that they never plan on buying their own home, which will leave Britain’s property-owning democracy in tatters. These findings also echo recent data from the English Housing Survey, which revealed that the private rental sector has doubled in the last 16 years, from 2 million in 2000 to 4.5 million in 2015/16.
Property expert Marc DaSilva states in his recent article for industry magazine ‘LandlordToday’, that in London, more than a quarter – 28.1% – of all households are now privately rented, up from 13.6% in 2003/4. He reports that recent research found 71% of tenants would be unhappy at the prospect of renting forever, with this figure rising to 84% among Londoners, making them the least likely to be content with living as a tenant for the rest of their lives.
Mayank Mathur, co-founder of The Urban Collective, said: “Fifteen years ago, renting was a stop gap until people could save enough to buy. Today, owning a home is a long-term goal and in 15 years’ tim,e it might just be an impossible dream. “If we’re going to become a nation of ‘forever renters’ then clearly the experience has to improve. No wonder the thought of renting forever makes Brits so unhappy; to date the rental market has been lagging behind the customer service found in other industries and geared towards serving landlords, not the tenants.”
The Maxine Lester team offer an amazing service to TENANTS, which you can find out about on this LINK and we can offer advice on how to rent and save for a property, so please give us a call if you would like some expert advice. Tel: 01480 494939.