REASONS FOR RENTING

News at Ware & Co | 09/11/2020

  • According to The Property Academy Tenant Survey 2020, just over half of tenants rent because they can’t afford to buy and almost half rent to suit their lifestyle.
  • Stepping onto the property ladder is hard and Covid-19 has added to this with stricter lending criteria. However, not everyone wants to buy, 14% of tenants do not want to buy and 19% do not plan on buying for more than three years.
  • There are many perks to renting, such as flexibility (12%), settling into a new area (10%) and the fact that all maintenance is taken care of for you (3%)
  • Personal circumstances such as divorce (5%), between buying and selling a home (2%), studying (3%) and age (6%) can also cause people to rent. Source: Dataloft, Property Academy (14,000 respondents)

 

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