Attitude to renting property in the UK

Attitude to renting property in the UK is changing as fewer people are able to buy and are forced into becoming reluctant tenants, research suggests.

In the latest fourth quarter survey from the Association of Residential Letting Agents, some 71% of landlords asked said they felt renting was more popular now than a year ago. In 2009 the figure was just 35%.

And, when asked about attitudes to renting and whether consumers would rather buy than rent, the majority of respondents, 67.2%, felt that people were being forced to rent, a slight drop on the previous quarter which was 71.6%, but still up on the same period of 2009 which was 54.2%.

With the average age to buy a first home now reported to be 35, it is also possible that renting will become the norm for more people than ever before.

Both reluctant tenants and those who rent by choice, must conduct thorough research before making a move. While there are many benefits to renting or letting a property, If you're using the services of a letting agent, check that they are a registered member of the property ombudsman

The Christmas period had a negative impact on tenant finances. 11.7% of all UK rent was unpaid or late by the end of December, rising from 9.7% in the previous month. Unpaid rent totalled £276 million across the UK in December, the highest total since December 2009.

The Christmas break has taken its toll on tenant finances. Many tenants have felt an additional financial pinch from Christmas spending, while others' payments have been affected as a result of travelling over the holiday period.