Families Are Biggest Category Of Private Tenant

If you are a landlord you may be interested to read that there are more families with children renting privately than any other type of tenant. That is based upon some research carried out by the National Landlords Association (NLA).

There has been a change in the last 4 years as to which type of tenant occupies a larger percentage of private rented property. Back in 2012 it was young single people that were the major type of householder that lived in private rented homes with 53% of tenants being in that category. The latest research reveals that the largest type of tenants renting privately in 2016 is families with children at 48%.

It is also interesting that 76% of those families taking part in the English Housing Survey that was carried out for the Department for Communities and Local Government indicated that they were happy with how long their tenancy agreement ran for and 79% of those people renewed their agreements or they remained the same when the original tenancy agreements came to an end. This survey also revealed that, in 2014 – 2015, the percentage of families renting privately was 37% compared to back in 2004-2005 when 30% of families were renting in the private sector.

The research carried out by the NLA and the above survey is perhaps an indication that many families with young children are happy with their landlord and the properties they are renting.

Whilst writing, landlords may also be interested to hear that an NLA poll called the NLA Quarterly Tenant Panel indicates that there has been a large increase in the number of retired people renting privately in recent years. When comparing polls carried out in Q1 of 2016 with Q4 of 2012, these have revealed that there has been an increase of around 220,000 in retired people now renting in the private sector.

Here at AIB Insurance, we are able to arrange landlords insurance as well as suitable cover for tenants who may wish to insure their contents and/or personal belongings. In this respect, why not give us a call on 02380 268 351 to discuss your requirements and obtain a quote without any obligation.