Renting from letting agents offers 'flexible lifestyle'
News Category: Industry News
Published: 26-Jan-2010
This article was brought to you by Rentman the premium rent management software.
It will be a good year for landlords and letting agents as more tenants are coming into the market.
That is the opinion of James Davis, chief executive of online letting agent upad.co.uk, who said people were not willing to take on a mortgage when their job security may be in doubt, so were choosing to rent a house instead of buying.
He said: "The availability of finance for first-time buyers is still stifling the sales market meaning would be first-time buyers are being reluctant [to purchase] or forced to rent."
Mr Davis added that renting from a landlord or letting agent offered a more flexible lifestyle than buying a house as there were no worries over how to afford repairs such as buying a new boiler.
Recent research by ARLA found 54 per cent of landlords thought people were in a situation where they had to rent a house as they could not afford to buy.
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