The Rise Of Family Renters & Older Tenants

The private rented sector now accounts for around a fifth of all households and there are now more families, middle-aged and older people renting than ever before.

According to the English Housing Survey (EHS), the proportion of private renters aged 55-64 was 9% in 2017-18, up from 5% ten years previously.

Meanwhile, the previous year's EHS documented a 1.8 million rise in the number of family tenants over a decade.

Evidence shows that people are renting for longer, too. As a landlord, long-term, reliable tenants are what you should be aiming for, so considering the varying demographics of the PRS is a wise move.

By taking into account family renters, middle-aged and older tenants, you could widen your pool of potential suitors and open your property up to a group of people you may never have considered before.

If you widen your marketing approach, you could reduce the length of void periods and find the perfect tenants for your property who stay for the long-term.

For further advice on the tenant demographics you should be targeting in your local area, get in touch with us and speak to a member of our lettings team today - you can contact us HERE.

We are highly experienced in letting properties in your area and have extensive knowledge of what different groups of tenants are looking for in a rental property.