A recent survey of 500 tenants from online letting agent Upad has revealed that spiralling rents are a bigger concern than agent fees.
On the eve of the election, interesting results from the investigation also indicate that 40% of respondents had no clear view on which party were best placed to solve tenants’ problems.
When questioned on what their largest concerns were, 50% of tenants replied that it was the cost of renting. The quality of accommodation and agents’ fees were in equal second position with 12%.
High deposits (7.3%) and the fear of future rent hikes (3.1%) were the next most common responses.
Concerns over revenge evictions and the regulation of the rental sector were minimal, despite being prominent in the press over recent months.
Turning to the next government, respondents felt that cost of a home, more assistance to get onto the property ladder and the provision of more affordable homes were all high in importance. These three issues combined were important for 56% of people questioned. However, 20% felt that abolishing letting agent fees was of upmost concern.
CEO of Upad, James Davis, said that, ‘what was most obvious from our research was how financially squeezed many tenants feel.’ He continued by saying that, ‘time and again, their answers showed that it was the high costs of renting and the even higher costs of buying their first home, which most worries them.’