You could be forgiven for thinking that people would prefer to buy rather than rent but it is interesting that the smaller properties are predominately being let to tenants who still see renting as the preferred option and do not want to be tied to a mortgage.
The larger properties on the other hand are being let to tenants who are generally moving around with their jobs many of whom are coming to the UK for a year or two with large multinational companies and need to rent with their families while they are here.
There has certainly been a change in attitudes toward rented accommodation over the last few years. Gone are the days when renting a property was done as a last resort and avoided when possible. To many tenants renting gives them the flexibility to move more easily and provides an opportunity to live in different locations and types of properties which they may not otherwise be able to live in.
I have seen an up in the number of investment landlords now increasing their portfolios or buying an investment property for the first time. The prospect of increasing house prices has prompted many people to reassess their investments and many of them have decided that property is a sound investment with great returns and the prospect of good capital appreciation.
The buy-to-let market that has evolved has had a very positive effect on the rental market and is probably responsible for improving the quality of the vast majority of rented accommodation. With more properties to choose from, prospective tenants were able to be more fussy leaving substandard properties empty leaving landlords having to make improvements to get their properties let.
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