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Tenant Attitude Survey 2011

The Tenant Attitude Survey 2011

Research on the residential rented sector compiled y Roomservice by CORT

The researched surveyd 314 people between 20 and 40, with a total minimum income per household of £30,000 or more, currently renting or looking to rent a property within the M25.

Who rents? And for how long?

  • The average length of time renting is 4 ¾ years, with 40% of people having rented for five years or more
  • Of those currently  renting, 71% live with their partner or spouse, 23% either live alone or with friends/co-renters.
  • Two thirds were aged between 26-35 while nearly half had an income per household of £30,000 and £40,000.
  • 31% of tenants have a periodic  tenancy, rolling over on a monthly basis and a further 43% have an agreement of one year or less. 83% of respondents have a tenancy agreement of two years or less.

Current Properties

  • 46% pay between £500 and £999 per month
  • 56% live in a flat or apartment, and 42% living in properties with two bedrooms.
  • Price and location were the two leading influences on rental decisions, with 88% and 86% of respondents respectively rating these factors as important.
  • Six out of ten respondents were satisfied with their current rental property, with 34% neutral towards it.
  • 72% of people thought they had a good relationship with their Landlord or Agent.
  • Tenants with the highest incomes (£50,000+), highest rental amounts & longest tenures were the most satisfied with their current rental properties.

Furniture

  • Two thirds of respondents currently live in a property that is furnished or partly furnished. 52% of respondents considered furniture to be an important influencer when renting a property.
  • 45% were happy with the furnishings provided – with the main reasons for dissatisfaction being items were dated or of poor quality.
  • 45% of respondents had left or would consider leaving a property due to quality of furniture provided.
  • Two thirds of tenants would consider paying more for quality furniture

Aspirations

  • 56% of renters are saving to buy a house, but only 20% will be able to  at the end of their tenancy.
  • 20% would like to be able to save to buy, but do not have the disposable income to do so.
  • 61% thought that renting will become increasingly popular in the coming years. 50% now consider renting to be a lifestyle choice.
  • 51% believe that rental market demand exceeds supply.

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