Rush for rented homes leaves tenants with regrets

Rush for rented homes leaves tenants with regrets

The growing demand for rental properties is causing people to rush into tenancy agreements that they later regret, according to research carried out for mortgage and loans provider Ocean Finance.

Almost a third (32%) of those questioned say they hurried into renting their property and 61% admitted to disliking something about their home.

A fifth of tenants say their home is too small and they wish they had rented somewhere bigger. Almost as many people (19%) say they feel cold in their rented accommodation.

Some 10% of tenants say their biggest regret is the location of the property, with a further 7% complaining about a lack of outdoor space. For 8% of tenants, the biggest bugbear is poor maintenance by landlords.

For some people it isn’t the property itself that is the problem, as one in eight (13%) say that they are unhappy with their neighbours and one in nine (11%) have remorse because they can’t afford their rent.

Ian Williams, a spokesman for Ocean Finance, said: “The rise in demand for rental properties is putting pressure on tenants to rush into taking properties that they spend the rest of their tenancy regretting.

“If you’re only planning to stay on a short-term lease, you may be less concerned about space or central heating. If you’re planning a long-term let then do some careful thinking about how your situation might change during your tenancy and ensure you have enough space, that the property is in the right location and well-maintained. And importantly, be sure that you can afford it.”