Renting in numbers
At Rentonomy we consider The Private Landlord Survey one of the best surveys on the rental market in England . It is a national survey commissioned by the Department for Communities and Local Government (CLG) of landlords and managing agents who own and/or manage privately rented properties. The key findings of these statistics are:
- Nearly 90% of landlords are private individual landlords responsible for three-quarters of all private rented dwellings.
- More than three quarters of all landlords only owned a single dwelling for rent, with only 8 per cent of landlords stating they were full time landlords.
- The majority (54 per cent) of dwellings met the Decent Homes Standard though this rose to nearly three-quarters (74 per cent) for those let by new landlords.
- Over two-fifths (42 per cent) of all dwellings have an Energy Performance Certificates (EPCs). These give information on how to make your home more energy efficient and reduce carbon dioxide emissions. All homes bought, sold or rented require an EPC.
- In terms of formal letting and management practices, nearly all landlords and agents (97 per cent) made use of a written tenancy agreement.
- 91 per cent required a deposit
- 84% required tenants to provide a reference.
- Almost half (47 per cent) of all landlords were happy to rent to tenants on Housing Benefit (HB) or the Local Housing Allowance (LHA), with a further 21 per cent saying they would be encouraged to do so if payments were not made direct to the tenant.
- In terms of issues considered a serious problem, 18 per cent of landlords or agents stated issues related to HB or the LHA, and 10 per cent the level of HB in the area. Issues not considered a problem by landlords were low demand (82 per cent), mortgage payments (76 per cent) and finding reliable builders (73 per cent).
- A third (33 per cent) of landlords and agents, who had heard of the Housing Health and Safety Rating System reported that 58 per cent of the dwellings they were collectively responsible for had received some form of assessment for potential hazards.
March 13, 2012 rentonomy London Living