Research from the latest English Housing Survey report shines a positive light on the national private rented sector (PRS), with the research showing that 84% of private tenants are satisfied with their accommodation, whilst 68% are satisfied with their current tenure.
As well as showing a significant number of happy tenants in the PRS, the report illustrates a rise in numbers of those renting within the sector, with the proportion of PRS households in England doubling since 1996/97. The report also states that the total size of the PRS has increased over the period from 2.1 million in 1996/97 to 4.7 million households in 2016/17.
Along with the positive growth of the sector, further information from the report confirms that improvements are being made to homes in the PRS, something that is crucial to maintain to ensure the positive future of the private rental market for both landlords and tenants. The number of homes which meet the Decent Homes Standard has improved massively from 2006, with only 27% of private rented homes failing to meet the standard in 2016, compared to almost half failing in 2006. Whilst there is still a way to go to further improve, this is certainly good news and a step in the right direction.
Residential Landlords Association’s policy director, David Smith, commented on the results: ‘It shows once again that the vast majority of private sector landlords do a good job and look after their properties and tenants properly.’
He added: ‘The Government should recognise this and ensure policy supports the vast majority of landlords who are individuals to continue providing the good quality homes to rent we need whilst improving enforcement to root out the criminals who have no place in the market.’
This is all good news for the many long- and short-term tenants renting in the PRS who are more likely to encounter good quality rental accommodation and professional landlords. For investors this is just another sign of the ongoing health of the market and steady demand.
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