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  • Buy-to-Let

    Costs down, tenancy length up in PRS



    Responding to the English Housing Survey report on the private rented sector 2017/18, published today, David Smith, the Residential Landlords Association’s Policy Director, said:

    “Today’s English Housing Survey dispels the myth that private renting means insecure tenancies and ever increasing costs. It shows that renters are spending less of their income on housing, at 33%, down from 34% the previous year and 36% in 2014/15, and are staying in their homes for over four years on average.

    “As Ministers look at ending so called ‘no fault’ evictions the survey finds that the large majority of those who moved out of their home did so because they wanted to, either for work, a larger home or to move to a different area (72%) or because their tenancy had come to an end (8%). A further 10% moved on mutual agreement with their landlord.

    “The majority (84%) of private renters also reported being satisfied with their current accommodation, higher than in the social rented sector.

    English Housing Survey 2017/18 report on the private rented sector is available HERE.

    A reminder that the RLA is the partner association of Property Tribes, and our members can enjoy a 25% discount off membership.

    SEE ALSO  -         Graham Rowan - "BTL in 2019? I'm out!"

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    The report is rather opaque on 'housing costs' for those with a mortgage it says the average cost is 17% of income however does that just take in the cost of the monthly mortgage payments or does it also include maintenance costs, refurbishment, for those who own leasehold the maintenance charge and ground rent, white goods etc? None of my tenants pay these costs but as a homeowner I do pay these costs and consider them a cost of housing which adds a fair bit on top of my mortgage. An ex-tenant I keep in touch with was astonished at how much she had to pay in her own home.

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