{"id":662,"date":"2020-06-25T12:40:27","date_gmt":"2020-06-25T11:40:27","guid":{"rendered":"https:\/\/www.propertyunder100k.com\/blog\/?p=662"},"modified":"2020-06-25T12:45:28","modified_gmt":"2020-06-25T11:45:28","slug":"who-likes-to-rent","status":"publish","type":"post","link":"https:\/\/www.propertyunder100k.com\/blog\/2020\/06\/25\/who-likes-to-rent\/","title":{"rendered":"Who Likes To Rent"},"content":{"rendered":"\n<p><strong>The letting industry is booming. The average rent across the UK rose by 2.5% in September 2019 when compared to the same month a year previously. If you\u2019re comparing letting agent fees, landlords are also seeing favourable prices due to the influx of online letting agent offerings.<\/strong><\/p>\n\n\n\n<p>Increasing average rent and lower <a href=\"https:\/\/rentround.com\/letting-agent-fee-calculator\/\">letting agent fees<\/a>\nare however being offset with tax break cuts &amp; tenant fee bans. So, while\nthere are ever changing variables being faced by landlords, renters are pushing\nforward unfazed.<\/p>\n\n\n\n<p>It\u2019s clear that in the long term, buying\nyour own property\/investing in a buy to let will put you in a better position\nfinancially. Aside from those that can\u2019t afford the infamous property deposit,\nthere are those that actually choose to rent.<\/p>\n\n\n\n<p>In this article we look at some of the\npeople that choose to be renters, as opposed to renting due to limited\nfinancial options.<\/p>\n\n\n\n<h3>The Bachelor<\/h3>\n\n\n\n<p>Picture the young, career driven and smart\nindividual (male or female!), enjoying life and exploring where they want to\nend up in the future.<\/p>\n\n\n\n<p>Rather than buying a long-term property, say a 3 bedroom in the outskirts of London, they may decide they want to rent a modern apartment close to the city.<\/p>\n\n\n\n<p>Now these types of property can be valued\nin the \u00a31,000,000\u2019s! While the bachelor may not have the financial backing at\nthis stage, their lifestyle may not yet suit a property that\u2019s further out away\nfrom the city nightlife.<\/p>\n\n\n\n<h3>Schools<\/h3>\n\n\n\n<p>Parents consider nearby schools as a high\npriority when deciding where to live.<\/p>\n\n\n\n<p>The best schools are in the most prominent\nareas, where the houses come at a premium. In addition, parents already located\nin the region are unlikely to move, lowering supply of houses in that\nparticular area and therefore adding to the price premium.<\/p>\n\n\n\n<p>Parents are willing to pay premium rents in\nthese areas. The extra rental cost can be judged as offsetting costs that would\nhave occurred in putting their child(ren) into a costly private school.<\/p>\n\n\n\n<h3>The Renting\nLandlord<\/h3>\n\n\n\n<p>Commonly, a landlord has a property that\nfor various reasons, they don\u2019t want to live in. It could be too close to\nparents, too far from work or not big enough.<\/p>\n\n\n\n<p>When not wanting to sell, an option is to\nlet out the property, while renting in a property more suitable to themselves.<\/p>\n\n\n\n<p>This allows them to live in a suitable\nproperty, while still reaping the rewards of rental income.<\/p>\n\n\n\n<p>Vitally, if you\u2019re one of these individuals\nlooking for a letting agent for your property, you can use <a href=\"https:\/\/rentround.com\/\">Rentround<\/a> when comparing letting agent fees\n&amp; performance to get yourself the best deal.<\/p>\n\n\n\n<h3>The Divorcee<\/h3>\n\n\n\n<p>Sadly, divorce is a part of life.<\/p>\n\n\n\n<p>During or straight after a divorce, the\nformer husband or wife will have a period of instability in their lives. They\nmay be using the opportunity to think about moving to the city or looking to\nstay near what used to be their family home to stay in close proximity to their\nchildren.<\/p>\n\n\n\n<p>During this period, a rental property would\nbe suitable vs. committing to buying a property.<\/p>\n\n\n\n<h3>The Contractor<\/h3>\n\n\n\n<p>Rather than being a permanent employee with\na regular job, the contractor is set up under a private limited company. The\nperson may move from company to company when their contract expires. The\nbenefit of this type of working is high day rates and pre IR35, lower tax vs. a\npermanent employee.<\/p>\n\n\n\n<p>As a new contract is taken on, the location\nmay vary drastically compared to the contractor\u2019s previous location.<\/p>\n\n\n\n<p>Therefore, renting makes sense in this\nsituation, in comparison to constantly buying &amp; selling or living in\nhotels.<\/p>\n\n\n\n<h3>\u201cI\u2019ll get\nmarried soon\u201d<\/h3>\n\n\n\n<p>Some people are in long term relationships\nor single and have their fingers crossed of finding someone soon with the aim\nto get married. With this mindset and possibility, buying a property as a\nmarried couple makes sense.<\/p>\n\n\n\n<p>A couple is likely to have a larger deposit\nand making it a joint decision on which property to buy, makes the moving in\ntransition easier.<\/p>\n\n\n\n<h3>The Speculator<\/h3>\n\n\n\n<p>These savvy individuals may be predicting a\nfuture down turn in the market. So instead of buying while the price is high,\nthey decide to pay rent up until a potential crash hits prices. The individual\ncan then buy a property at a better price, increasing their profit\nsubstantially.<\/p>\n\n\n\n<p>In addition, after a crash it\u2019s common to\nsee interest rates cut and tax subsidies from the government, to re-stimulate\nthe economy as per the 2008 crash fallout. This adds to the benefit of buying\nafter a crash.<\/p>\n\n\n\n<p>However, predicting a crash isn\u2019t easy. If\nyou get it wrong, you could see yourself on the wrong side of property price\nincreases.<\/p>\n\n\n\n<p>All in all, there are many reasons why people prefer to rent as opposed to buying a property. Financially, yes the favour is usually in buying a property. However, for personal, family &amp; work-related reasons, renting provides the flexibility that is often required in people lifestyles.&nbsp; <\/p>\n\n\n\n<p> <em><strong>About the author:<\/strong><\/em>  <em>Raj Dosanjh is the founder of letting agent comparison site Rentround.  Wearing&nbsp;many hats, Raj also runs a consultancy in the banking industry  and his own martial arts club.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The letting industry is booming. The average rent across the UK rose by 2.5% in September 2019 when compared to the same month a year previously. If you\u2019re comparing letting agent fees, landlords are also seeing favourable prices due to the influx of online letting agent offerings. Increasing average rent and lower letting agent fees &hellip; <a href=\"https:\/\/www.propertyunder100k.com\/blog\/2020\/06\/25\/who-likes-to-rent\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Who Likes To Rent<\/span><\/a><\/p>\n","protected":false},"author":11,"featured_media":667,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[217],"tags":[295],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Who Likes To Rent - propertyunder100k.com<\/title>\n<meta name=\"description\" content=\"... although, buying your own property will put you in a better position financially, in this article we look at some of the people that choose to rent...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertyunder100k.com\/blog\/2020\/06\/25\/who-likes-to-rent\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Who Likes To Rent - 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