The latest English Housing Survey, published on July 13th, 2017, has contradicted myths about the private rented residential property.
The report looked at the period 2015/2016 and found that 82% of tenants were happy with their privately rented property tenancy. This is just ahead of the 81% of social property tenants who were happy with their accommodation.
This is in contrast to the common belief that tenants fear eviction due to short-tenancy agreements. The average tenancy length is over four years.
Leaving voluntarily accounted for 73% of tenants moving, with only 11% leaving because they were asked to by the letting agent of the landlord. Only 2% of tenants left because of increased rent.
Alan Ward, the chairman of the Residential Landlords Association (RLA), commented:
“With only a very small minority of tenancies ended by a landlord or because of increased rent, it is time that those who suggest that landlords spend their time looking for ways to evict tenants or make profits at their expense replaced fear mongering with facts.”
The government recently cut tax relief on commercial mortgage interest payments for landlords on tax bands higher than 20%. According to research by the Residential Landlords Association, two-thirds of landlords are on the 20% basic rate tax, so are not affected by these tax changes.
The RLA is urging the government to abandon the tax changes to make it more attractive for landlords to invest in buy-to-let property to meet the high demand for private rented accommodation.