LETTINGS NEWS:- Renting now a lifestyle choice – it’s not a ‘second class’ option
Renting is sometimes considered a ‘second class’ option for those who can’t afford to buy. But new figures show many people now prefer renting to owning – good news for existing landlords or those thinking of buying their first buy to let property. Figures show:
- 73% of tenants enjoying the freedom of renting without mortgage worries;
- most young tenants rent for four years longer than originally expected;
- fewer than 1% of tenancies end with any dispute over rent or property condition.
Most property experts’ forecasts for 2019 anticipate that the rental sector will increase in size – currently around one household in six in the east Devon area privately rents, so there is almost always strong demand from tenants for properties.