2023 Renters Pulse Q3 Survey Results
2023 Renters Pulse Q3 Survey
Marks Out Of Tenancy has launched a brand new survey taking the pulse of tenants across the UK to see how they’ve felt over the last 3 months.
Our survey received more than 100 responses in 24 hours and gave us crucial insight into the mind of tenants across the UK, highlighting their chief concerns and areas of worry over the last quarter.
Unsurprisingly, there were a lot of people concerned about the state of their mental health, and the rising cost of rent. We've collated the following stats from the survey.
Repairs and Maintenance
Starting off with property maintenance - out of 100 responses to our Renters Pulse, 55% reported that the quality of repairs and maintenance had stayed the same whilst, 37% reported that they had got worse over the last 3 months.
Surprising? No, not really. Landlords have been raising rents to cover their own costs ever since the first wave of the pandemic hit in 2020. Rent has continued to rise at extraordinary rates, but the quality of repairs has not for many tenants, indicating any landlords either are less worried about stepping up repair and maintenance work or, are prioritising their profits instead.
Landlords need to take repairs and maintenance more seriously. It isn't right to keep increasing rents without providing quality repair work and timely maintenance when it is needed, and not prudent for the landlord's investment. It has an adverse effect on tenants mental health, and speaking of which…
We asked our respondents how the condition of their rented property and their relationship with their landlord impacted on mental health over the last 3 months. 47% responded that things were the same, whilst 47% indicated their mental health had got worse as a result of these factors.
Once again, this is an alarming number of tenants demonstrating unhappiness with the place they call home as a result of either the poor maintenance of the property or the person running it. There can be no understating the fact that everyone has the right to a home, which they feel safe and secure in.
The fact that nearly half the respondents to our renters pulse have said they feel their mental health is growing worse, reflects a grim reality of the state of housing in the UK right now, as well as how many landlords are choosing to run their properties without thinking of the people living in them.
Security of Tenure
Your relationship with your landlord is important, but even having a good relationship with them doesn't guarantee you everlasting security during your tenancy. We asked our respondents how secure they felt over the last three months living at their current property.
49% responded saying they felt the same, whilst 42% responded saying they felt less secure. This does not tell us directly that tenants are about to be made homeless but, it shows a lot about how some tenants see their relationship with their landlord and the trust they have in them.
If landlords aren't communicating clearly with their tenants and are dropping half-baked comments about selling up, changing the tenancy or any other issue, then it's no wonder so many renters aren't confident whether they will be kicked out of their home before Christmas.. Furthermore, landlords risk losing good tenants for no reason by scaring them into moving out earlier, with inconsistent communication.
Of course, things have been difficult for everyone recently with high inflation and rising interest rates. The last 3 months has seen price rises slow considerably, but it is no surprise that 52% of our respondents said they felt their financial security had got worse.
Rising rents have played a part. It's all well and good that some landlords will have to raise their rents in line with inflation but, the news is full of reports concerning meteoric rises in rent for some renters which severely impacts their financial security.
Landlords have a right to raise their rents, but responsible landlords do this fairly, checking with their tenant what they can afford and reaching a fair agreement which works for both parties.. Landlords may indeed be feeling the pinch from the state of this economy, but so are renters who are not in unlimited supply.
2023 Renters Pulse Q3 Survey Feedback
In the interests of impartiality, we've asked some industry experts what they think of the 2023 Renters Pulse Q3 Survey results.
Here's what Kent landlord and blogger, Suzanne Smith had to say on the results from the Security of Tenure question:
“Unfortunately many landlords have been selling up as a result in the change in tax treatment of mortgage costs, which means they may have been making a loss, despite record rents. Communication is so important. Once landlords decide they want to sell up, they should be transparent and honest about their intentions. They should tenants as much informal notice as possible, well before they serve the section 21 notice, so that tenants can plan. Conversely, if they’re not intending to sell up, they should tell their tenants, so they can stop worrying. That’s what I do – I explain I’m in it for the long term and they don’t need to worry because I’m not going to be selling up.”
What can be done about this?
Marks Out Of Tenancy is committed to taking the renters pulse every 3 months and reporting our findings publicly. With this data, we're shining a light on the real problems facing renters in these trying times, and highlighting what landlords could be doing better to not only help their tenants, but also themselves.
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