Every year the government releases the results of the survey which they refer to as the English Housing Survey. This report is based on the circumstances people are housed in and the condition and energy-efficiency of the rented property across England.
This information is really useful for a private landlord. It shows how the profile of tenants is changing and can help you to ensure you meet the demands of a tenant in the best way possible. The latest released survey looks at the figures for 2016-17.
Households for England 2016-17
The survey found that the breakdown of households was 63% owner-occupiers, 20% private rented sector and 17% social rented sector. In terms of age of these tenants, most are under 45. Adults are staying longer in properties owned by private landlords due to not being able to afford a home and issues from the recession. Many of these renters do expect to buy at some point, but it’s fair to assume that at least a third of all tenants in England see renting as their only option.
What to Think About as a Private Landlord
If you are a private landlord, the English Housing Survey is something you should definitely take a look at. It may make you see that you need property inventory software. If you own a lot of properties, then property inventory software can help you keep track of your investments. Take a look atwhere can I find property inventory software online to find out more.
In response to the survey, you might want to think about changing things about your rental properties. Offering a longer-term tenancy will give your tenants more security. Allow your tenants to make small changes to the property and personalise it. This is definitely something to bear in mind if a tenant is renting from you long-term, as they will want to repaint and hang pictures to make it feel like theirs.
Another thing that’s important to consider from the survey is that 38% of tenants have children. So if you are renting out a house, you can make it appealing to families by making it child-friendly. Secure the garden, provide a playroom and give people the option to repaint kids’ bedrooms.