Insurance News Archive
Renting is 'not the ugly sister' of property market
Posted by Michael Brown
Renting is no longer the "ugly sister" of the property market, a leading representative body for private residential buy to let insurance policyholders has stressed.
Simon Gordon, head of communications for the National Landlords Association, was commenting on a report by the Association of Residential Letting Agents, which found that over half of buy to let insurance policyholders feel that tenants are being forced to rent rather than purchase homes at the moment.
Mr Gordon said that although some tenants may be reluctant to rent, the figures do not reveal the "true story".
"Nowadays there are property savvy renters who prefer not having to worry about home repairs or concerns about making ends meet with potentially volatile interest rates," he explained.
Mr Gordon asserted that increasing numbers of people are attracted to renting because it offers a simpler, more flexible alternative to home ownership.
The perception that renting is the only option for people who cannot afford to get on the property ladder has disappeared, he added.
25 Jan 2010
