Rental properties news: Quality of homes improving thanks to increase landlord spend
Propertywire are reporting that the fall in the proportion of non-decent homes from 44% to 24.5% over the last decade is attributable to the increase in the amount of money that landlords are spending in refurbing their letting properties. According to the article here, landlords are typically spending £12,000 refurbishing a property which has led to an improvement in the quality of homes in the private rental market, good news for all concerned in rental properties.
A “significant and sustained” improvement
The amount of homes in the private rented sector has grown by 45% over the period of the study, while the number of non-decent home fell in absolute terms by 275,000. This improvement in the quality of private rented properties is borne out by the result of the latest English Housing Survey, which shows that 84% of private renters were satisfied with their current accommodation.
The Maison View:
This is a very encouraging survey – and very welcome rental properties news. It really does seem to be a win-win result for the majority of all involved. The increase in quality of privated rented properties is clearly a plus point for tenants, and also a plus for landlords who are investing in quality refurbishment to find quality tenants and increase the value of their overall investment in the property. That’s what we are all about here at Maison Investments, and if you would like to see how we can help your investment grow at a better rate than the banks, please contact us.
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