THE
perks
OF
RENTING
Between 2007 and 2017, the number of people renting in the UK increased by 63% A record number of people now rent their home as opposed to buying; with a large selection choosing to rent even though they could afford to buy. Renting has a huge number of perks and, with owning a home not as much of a priority for younger generations, this will continue to rise. The largest group of private renters are those aged 25-34. However,
there has also been an increase in renting for 45-54-year-olds. With new measures introduced earlier in the year, tenants have never been better protected. The increase in private renters isn’t necessarily because buying a house is out of their budget, many rent instead of buying due to career, family and the huge number of benefits that come from renting.
SO, WHAT ARE THE BIGGEST BENEFITS OF RENTING? The world moves faster than ever before. On average, Millennials switch jobs more often than older generations; with 60% always open to new opportunities. The job market has changed with people rarely staying in one job throughout their life. Many now want the flexibility to move to new areas to pursue their career. Renting is the perfect choice for those that do, as there is no need to put your house on the market, await viewings, negotiate offers and then wait for conveyancing. Leaving a rental property entails handing in your notice, cleaning and then moving! QUICK PROCESS
Many rent instead of buying due to career, family and the huge number of benefits that come from renting
Moving into a rental property is quicker than buying a property too. When you rent, you calculate how much you can afford using your salary, go on some viewings and then confirm to us, the agent, that you like the property. After this, you can put down a deposit and wait for the reference checks to complete, which usually takes a week. Once referencing is complete, you will confirm your
move-in date, pay your deposit and usually your first month’s rent, and pick up your keys. In theory, with the process running smoothly, you could view a house on a weekend and move in the next weekend! NO REPAIR BILLS If you own your home and the boiler breaks, or the oven stops working, you will need to pay a professional to replace or fix the item and do the work. In a rental property, report these problems and the landlord will get them fixed quickly at no cost to yourself, (as long as you didn’t cause the damage). This is the same for smoke alarms, Carbon Monoxide alarms and any other problems that happen during your tenancy. INSPECTIONS HELP YOU KEEP ON TOP OF THE CLEANING That dreaded word every tenant fears: ‘inspection’. However, this is the perfect opportunity to remind you to do a deep clean every sixmonths. When you own your home, you have no-one coming around to check on the condition of the property, which can lead to laziness in the upkeep of your home.
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