2024 Renters Pulse Q1 Survey Results

Marks Out Of Tenancy has completed a third survey taking the pulse of tenants across the UK to see how they’ve felt over the last 3 months. The results of the previous surveys can be found here

2023 Q4
2023 Q3

Our survey results continue to give us crucial insight into the minds of tenants across the UK, highlighting their chief concerns and areas of worry over the last quarter. As we gather more data and more responses over time, we see that trends are generally not positive. The results paint a picture of a private rental sector that is not improving and in the experience of many renters, conditions are getting worse. As with the previous survey we see shifts either positive or negative are small, although we can start to see patterns emerging. We’ll continue to take a renters pulse survey every quarter to better understand how renting is impacting renters.

Repairs and Maintenance

Starting off with property maintenance - we asked how respondents felt about the service they received relating to repairs and maintenance carried out on their homes.

Renters PulseQ1 2024 Repairs and Maintenance:
Stayed the same - 63%
Got worse - 31%
Got better - 6%

Whilst the numbers have not varied significantly the trends in repairs and maintenance might appear to indicate signs of change for the better. Notably, for the last three months fewer respondents are telling us that their circumstances have got worse. 

However two things must be understood - first “Stayed the same” does not qualify whether the respondent is having a good experience with repairs and maintenance - only that it hasn’t changed.

Second, it’s clear the only metric that indicates positive change is the “Got Better” answer and unfortunately fewer respondents than ever are telling us things have improved in this area. 

Mental Health

We asked our respondents how the condition of their rented property and their relationship with their landlord impacted on their mental health over the last 3 months. 

Renters Pulse Q1 2024 - Mental Health results:
Got worse - 46%
Stayed the same - 46%
Improved - 9%

A glimmer of hope as less respondents reported their mental health got worse, and a higher number than previous surveys reported an improvement.

The improved mental health response is a positive upward shift - we hope it continues.

The low rate of improvement - from 6% in previous surveys to 9% - remains an area of concern. It suggests that more can be done to improve landlord tenant relationships.

Security of Tenure

This Renters Pulse Survey's question addresses the crucial aspect of security of tenure, asking renters whether they feel more secure, less secure, or the same regarding their right to remain in their property after the last three months.

Renters Pulse Q1 2024 - Security of Tenure results:
Stayed the same: - 54%
Less secure: - 43%
More secure: - 3%

The results over time now show any improvement from the last survey has not only fallen off, responses show the perception of security of tenure among renters has fallen to the lowest level since we started these surveys.

Fears about housing instability are now at the highest level we’ve seen. This points to an urgent need for policies or practices that not only prevent deterioration in tenure security but actively enhance it.

Financial Security

Of course, things have remained difficult for everyone recently with high inflation and the ongoing cost of living crisis continuing to be serious problems.

This question focused on the financial security of renters, asking them to reflect on whether their financial situation has improved, stayed the same, or worsened over the last three months.

Renters Pulse Q1 2024 - Financial Security Results:
Got worse - 52%
Stayed the same - 38%
Improved - 10%

The percentage of renters who felt their financial security had improved increased slightly from 8% in Q4 2023 - which is a positive result. Elsewhere the survey results from the past 9 months continue to reveal a concerning consistency in the number of renters who perceive their financial situation as worsening. The unchanged high percentage (52%) across every survey suggests ongoing financial challenges for a significant segment of the renting population.

Rent Prices

In 2023 Q4 we added a new question: 'Rent Prices: In the last 3 months has your rent increased, decreased, or stayed the same?' As we now have more than one result, we can start to chart the progression of rental prices paid by our respondents.

Rent prices Q1 2024 Results:
Increased: 40%
Decreased: 1%
Stayed the same: 59%

The results reveal that nearly half of all renters have seen their rent increased. This remains concerning - as this  number is up on the previous quarter.

The very simple fact is rent prices continue to go up - and more renters are being impacted.

The very low instance of any decrease in rent prices suggests a rental market where costs are either static or rising, with no relief for those who might be struggling with high rental costs. This trend could have broader implications for housing affordability and the financial stability of renters.

The Data So Far