Nearly one in five private renters move due to bad property condition
New data* from landlord insurance specialists Cover4LetProperty reveals that nearly one in five private tenants have moved due to the bad condition of their rental property.
The survey wanted to find out the reasons why a private tenant typically moves from one rented property to another and to see whether the move is influenced by the landlord and / or the property, or by other circumstances.
The study showed that in the last 5 years, 50% of respondents have moved from one rented property to another because of the following reasons …
- nearly a quarter (23%) moved to a different area;
- 23% moved because of the cost;
- 19% said they moved due to the bad condition of the property;
- 6% moved due to not getting on with their landlord;
- 6% also said they wanted more space.
Other reasons included not getting on with the other tenants (3%) or neighbours (3%); managing to save up for their own home; and the tenant being worried about eviction as the landlord was in mortgage arrears.
*Independent study carried out for Cover4LetProperty by Usurv June 2016 of 100 people aged 25-65.
Richard Burgess, MCIM, ACIEH, Cert CII Director at Cover4LetProperty, telephone: 0845 863 9558 or email: email@example.com
With roots going back to 1946, our clients can benefit from 70 years’ of experience in the landlord insurance marketplace. We are award-winning independent intermediaries and act on behalf of our clients in arranging their buy to let and unoccupied property insurances. Our service includes advising clients on their insurance needs, arranging insurance cover with insurers to meet those requirements and help with any ongoing changes that have to be made to their landlords insurance policies.