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Survey Finds 30% of Tenants Quit Rental Properties Due To Poor Standards

Survey Finds 30% of Tenants Quit Rental Properties Due To Poor Standards

Landlords Need To Take Note Of Survey Findings
To Attract And Keep Good Tenants

One in three current PRS tenants have quit properties and ended tenancies within the UK private rental sector due to lack of repairs by landlords and the overall poor condition of rental properties in general.

These shocking tenant revelations are from a survey carried out on behalf of the National Landlords Association (NLA) by shower manufacturer Methven, last month.

The survey of PRS tenants discovered that poor quality fixtures and fittings in rental properties are a major cause of grievances and less than 10% of tenants who took part in the survey were completely happy with the condition of the property they were currently renting.

Over 60% of private rented sector tenants who took part in the survey said the standard of bathroom fixtures in rental properties is below average with 16% reporting that standards were poor. A further 53% claimed a good shower is an essential feature of a good rental property, which is good news for the shower manufacturers conducting the survey.

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It Pays To Be A Property Owning Pensioner

It Pays To Be A Property Owning Pensioner

Pensioners property worth almost £770 Billion Pounds

It has been revealed by national newspaper, The Telegraph, that Pensioners in the UK own almost £770 Billion (GBP) worth of property outright, without any form of mortgage.

It is estimated that some 4.7 million retired property owners in the UK own their residential properties outright.

The total value of OAP property ownership has increased by £1.2 Billion (GBP) over the past three months, representing almost £770 Billion (GBP) worth of property held outright, without a mortgage.

The survey was conducted in England, Scotland and Wales by advisory firm, Key Retirement Solutions, however, the survey didn’t cover properties in Northern Ireland.

The survey revealed a two-speed property market in the UK, with London seeing a significant rise in over-65s’ property wealth, however, the value of property wealth was much lower in the neighbouring South-East region.

The average value of property owned by pensioners without any form of mortgage increased by almost £12,000 (GBP) in London, but fell by £1,570 (GBP) in the South-East, the survey found.

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More than 66% UK property owners believe the value of their home will stay the same in 2012.

New research from Clydesdale and Yorkshire Banks has found that the majority of the UK public believe the value of their home will stay the same over the next 12 months.

The study revealed 66% of homeowners do not expect UK residential property prices to change considerably in either direction.

Only 16% of respondents anticipate that the value of their property will fall again this year, with the remainder expecting the costs to rise.

Retail Director for Clydesdale Bank, Steve Reid stated: “It is encouraging that such a high percentage of people have confidence in the property market and the value of their home.”

The research also revealed property owners in London are the most positive about the prospects of their property prices this year, with 39% believing the value of property is likely to escalate.

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