2024 Renters Pulse Q2 Survey Results
2024 Renters Pulse Q2 Survey Results
We've completed our fourth pulse survey to gauge the feelings and sentiments of renters across the UK. Results from previous surveys are available here:
This report analyses tenant sentiment data collected by Marks Out Of Tenancy for the past four quarters, focusing on key areas such as repairs and maintenance, security of tenure, financial security, mental health, and rent prices. The data spans from Q3 2023 to Q2 2024, offering insights into trends and shifts in tenant experiences and perceptions.
Repairs and Maintenance
Question: Have repairs and maintenance to your home by your landlord or letting agent over the last 3 months got better, stayed the same, or got worse?
Q3 2023: 55% Stayed the same, 37% Got worse, 8% Got better
Q4 2023: 59% Stayed the same, 33% Got worse, 8% Got better
Q1 2024: 64% Stayed the same, 31% Got worse, 6% Got better
Q2 2024: 61% Stayed the same, 29% Got worse, 10% Got better
Analysis: Over the past four quarters, a majority of tenants consistently report that repairs and maintenance have "stayed the same," with this sentiment peaking at 64% in Q1 2024. There is a slight improvement in Q2 2024, where those reporting a worsening of conditions decreased to 29%, and those noting improvements increased to 10%. However, the overall perception is that there has been minimal positive change in this area, with a consistent proportion of tenants feeling that the situation is static or worsening.
Security of Tenure
Question: Thinking about the right to remain in your property, over the last 3 months, with security of tenure in mind, do you feel more secure, the same, or less secure?
Q3 2023: 49% Stayed the same, 42% Less secure, 9% More secure
Q4 2023: 61% Stayed the same, 33% Less secure, 5% More secure
Q1 2024: 54% Stayed the same, 43% Less secure, 3% More secure
Q2 2024: 61% Stayed the same, 31% Less secure, 8% More secure
Analysis: Tenant feelings of security of tenure have remained relatively stable, with a notable majority consistently reporting that their sense of security has "stayed the same." However, a concerning trend is observed in Q1 2024, where 43% of respondents felt "less secure," the highest in the period. This trend slightly reversed in Q2 2024, where fewer tenants reported feeling less secure (31%), and the percentage of those feeling "more secure" improved to 8%.
Financial Security
Question: Over the last 3 months, thinking about your financial security, has it improved, stayed the same, or got worse?
Q3 2023: 52% Got worse, 34% Stayed the same, 14% Improved
Q4 2023: 52% Got worse, 40% Stayed the same, 8% Improved
Q1 2024: 52% Got worse, 38% Stayed the same, 10% Improved
Q2 2024: 52% Got worse, 37% Stayed the same, 12% Improved
Analysis: Financial security remains a significant concern for tenants, with a consistent 52% reporting that their situation has "got worse" over the last four quarters. While the percentage of tenants who feel their financial security has "improved" slightly increased from 8% in Q4 2023 to 12% in Q2 2024, this is still a minor proportion. The persistent financial strain is evident, with little fluctuation in the overall sentiment.
Mental Health
Question: How has the relationship with your landlord and the condition of your rental property impacted your mental health over the last 3 months? Improved, stayed the same, or got worse?
Q3 2023: 47% Got worse, 47% Stayed the same, 6% Improved
Q4 2023: 48% Got worse, 45% Stayed the same, 6% Improved
Q1 2024: 46% Got worse, 46% Stayed the same, 9% Improved
Q2 2024: 35% Got worse, 58% Stayed the same, 8% Improved
Analysis: The impact of the rental situation on tenants' mental health shows a slight improvement over the year. In Q2 2024, only 35% reported worsening mental health, down from 48% in Q4 2023. Correspondingly, the percentage of tenants who feel that their mental health has "stayed the same" increased significantly to 58% in Q2 2024. While the proportion of those experiencing improved mental health remains low, this is a positive shift indicating a possible stabilisation of tenant experiences.
Rent Prices
Question: In the last 3 months, has your rent increased, decreased, or stayed the same?
Q4 2023: 37% Increased, 63% Stayed the same, 0% Decreased
Q1 2024: 40% Increased, 60% Stayed the same, 1% Decreased
Q2 2024: 40% Increased, 58% Stayed the same, 2% Decreased
Analysis: Rent prices have seen consistent increases, with 40% of tenants reporting rent hikes in both Q1 and Q2 2024, up from 37% in Q4 2023. The proportion of tenants whose rent stayed the same has slightly decreased, indicating a trend toward rising rental costs. The emergence of a small percentage of tenants experiencing rent decreases in Q1 and Q2 2024 is noteworthy, though this is a very minor fraction of the total population.
Conclusion
The overall sentiment among tenants indicates a mixed but cautiously optimistic outlook. While financial security and mental health concerns remain significant, there are signs of improvement in perceptions of repairs, maintenance, and tenure security. However, rising rent prices continue to be a source of stress, exacerbating financial insecurity. Going forward, focusing on stabilising rent prices and improving landlord-tenant relationships could enhance tenant satisfaction and well-being.