3 Disadvantages of Renting a Property.

Renting a room or a home from a private landlord is now a reality for millions of people in the UK - but are there any disadvantages to this housing experience? The short answer is yes. This blog is going to discuss 3 disadvantages of renting a property in detail for consideration.

1. Money Issues: The vast majority (83%) of respondents in a recent Spareroom survey said that they rented in a house-share for financial reasons. Rising rent levels are a constant worry for many Renters, particularly those in more expensive areas of the country like London.

   
   

   Several Renters see increasing rents as unreasonable, are this reality is facing a crackdown from the government, which is one aspect the newly introduced Renters’ Rights Bill will address.

   
   

2. Questionable landlords: There is a growing concern about the number of landlords who fail to ensure that the property is properly maintained. The general view is that selected bad landlords has given the sector a bad name. Landlords have a wide range of responsibilities, including ensuring the property is safe, habitable, and maintained, as well as complying with legal requirements like fire safety, gas safety checks, and tenant deposit protection.

Click the file below for a more detailed breakdown of a landlord's responsibilities:

Deposits are controversial. Some argue that a landlord expects too much, potentially withholding deposits for general wear and tear, or old things being thrown out. Others worry that not every landlord is protecting deposits into a deposit protection scheme. Across the UK, landlords must put deposits into a government-backed tenancy deposit protection scheme, external. Different schemes operate in different parts of the country. In England and Wales, the three government-approved tenancy deposit protection schemes are: the Deposit Protection Service (DPS), MyDeposits, and the Tenancy Deposit Scheme (TDS).

3. Insecurity: Nearly half of those asked in a Spareroom survey said that being in control of when they move home is a key attraction of buying. While renting does offer flexibility, one of the big fears among tenants is being told by their landlord that they will have to move. One tenant sums it up by saying there is "constant uncertainty of [landlords] wanting to sell and therefore having to find somewhere else to live". This is also being tackled, to an extent, in England by the introduction of the Renters’ Rights Bill where new rules will abolish Section 21 no fault evictions etc., designed to increase security within the Private Rented Sector.

   
   

If you are ready to begin your housing journey by way of renting and wish to have a one-to-one consultation to be informed on what your rights, responsibilities as well as what landlord’s rights and responsibilities are, then contact us on: 0203 576 3174 to speak with an Advisor. Alternatively, you can email us: info@lpsandconsultancy.co.uk and a member of our team will be in touch with you soon!

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