Generation Rent

mkt appraisalHouse prices are rising, levels of home ownership are slowly declining. A report released last month, states that more than half of people under 40 will be living in rented accommodation by 2025.

Isn’t it most peoples ambition to own their own home? The ideal situation is to find that forever home, where you can lay down your own roots and be afforded some stability. Currently the stories we are hearing are that the deposits required to get that foot on the property ladder is unachievable.

One of the reasons for this is the cost of renting a property whilst you are trying to save your deposit, pay bills and genuinely keep your head above water to avoid a sea of debt, potentially putting you in a worse position.

Being dubbed as ‘Generation Rent’, The Guardian featured some interesting stories from real readers back in July this year, who are currently in the rental cycle and have no idea how to get out of it and get a firm foot in the property ladder.

The main theme, is that tenants are crying out for longer term rental options, with more rights. This would give them increased security and allow them to feel settled. More and more agencies are working harder with both landlords and tenants to ensure that both parties are receiving what it is they need. For the tenant, a fully compliant property for the correct amount of rent each month, without annual rises for no apparent reason, for the landlord, a continuous income and trusted tenant who will look after the property during their rental period.

Within the London boroughs who have adopted the Landlord License scheme, this will hopefully enable landlords to offer decent accommodation and comply with regular annual safety checks. It will also make the tenant responsible for keeping up with their side of the tenancy agreement.

For more help and information on renting or your eligibility to buy a property using the help to buy scheme, visit our website www.propertywide.co.uk .

 

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Posted by: Samantha Turner-Meyern Categories: Economy, Landlords Advice, Renting, Tenants Advice, Uncategorized Tags: , , , , , Comments Off on Generation Rent

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