Editor's note: This brief was summarised by The Property AI Team from a report by Landlord Today. Read the original article for full details.
Three Quarters of Renters Want to Buy, Yet Most Expect to Rent for Life
Three quarters of renters would like to buy their own home, yet over four in 10 expect to rent for the rest of their lives, according to new research reported by Landlord Today.
The survey of more than 2,000 private renters in England was conducted by the TDS Charitable Foundation. It also found that more than half of renters (51%) would like to move out of their current property but feel unable to.
What This Means for Letting Agents and Inventory Clerks
The findings point to a rental market serving long-term renters, many of whom aspire to homeownership but expect to remain in the rented sector. With a majority of tenants wanting to move but feeling unable to, agents may see tenants staying put longer than they would choose. That is worth bearing in mind for tenancy management, renewals and move-out planning.
Source: Landlord Today