Renting Myths Debunked
There are many misconceptions about landlords and renting. However, since renting is on the rise in the UK, it’s about time we laid rest to some of the mistruths surrounding the landlord/tenant relationship. Renting still has a kind of stigma attached to it and it’s time to dispel those negative vibes:
- It’s only for those who can’t afford to buy
While it’s true that many tenants are young people, it is now far more common to find families growing up in rented accommodation. The average age for settling down and buying a property has been increasing and with greater job flexibility, people often choose to continue renting as it suits their lifestyle. Many professional people don’t want to be tied to a property, want to travel or be free to switch jobs to different parts of the country. Renting is a perfectly acceptable and viable lifestyle choice for many people, single and those with families. For a helpful Gloucester Letting Agency, visit https://alexclarkglos.co.uk/
- All landlords are bad
There are good and bad in every profession and while some negative stories are true, these are the ones that make the news. You don’t hear about the majority of UK landlords who are honest, reliable and genuine people. In a recent study of more than 1,000 tenants, almost 80% were satisfied with their landlord. So, the risks of having a bad landlord are pretty slim.
- Renting is too expensive
Short-term renting due to current lifestyle is going to work out a cheaper option. If you’re not sure of your commitment to a job or area, then rushing into buying a property, buying the wrong place in the wrong location is going to be far more costly and troublesome in the long run. For anyone in the process of a transition in their life or sorting out finances, renting is a clever and money-saving option.
- Rent money is a waste of money
Many people argue that renting is throwing away good money. However, this somewhat old-fashioned view misses the point about the many benefits of renting. For those wishing to live in inner city or popular urban areas, renting can provide you with access to much nicer accommodation than you could otherwise afford. When buying a house, it can often take many years for any financial benefits to be truly felt so the ‘wasted money’ argument doesn’t stand up to too much scrutiny.
- Renting is more hassle
This is simply not true. With renting, there is a lot less hassle and responsibility than that which comes with home ownership. Maintenance and repair issues fall to your landlord to sort and also must take care of the buildings insurance. Annual checks for gas appliances, electrical maintenance and any water supply issues again fall to the landlord to deal with. Some rentals even come part-furnished with sofas, white goods or even beds, saving you the hassle and expense of purchasing them.