Why Renting is Popular

There are several reasons for the increasing popularity of renting and, the other side of the coin, of letting.

For the tenant, renting has become a convenient alternative to buying and for some it has become the only option:

Job mobility, job insecurity and short-term work contracts mean that many are now wary about becoming locked-in to owning a property.
Co-habitation prior to marriage again means that couples are often reluctant to become looked-in to a property and a large mortgage, which may be difficult to unravel if there is a split.
Higher divorce rates and an ageing population, with people in general living longer, has increased demand for housing and particularly single person accommodation.
With the demise of MIRAS (Mortgage Interest Relief at Source) the government no longer gives the same tax breaks to home owners.
In some high-priced areas first time buyers have been priced-out and renting has become the only option.
For the landlord, whether it's a side-line to an existing day job or a full-time occupation, buying to let has become an alternative to other forms of savings and investment:

Renting property has become more socially acceptable in the UK, though there is still a long way to go before we reach mainland European and US levels.
We have entered a more sympathetic legal climate for the landlord, with the guaranteed ability to get the property back when she wants to, and to charge reasonable market rents.
Buy-to-Let mortgages have meant that property investment has become a real alternative to building societies and stocks & shares, with an added bit of satisfaction and excitement for those who take to it.
Low interest rates offered by banks & building societies encourage people with some capital to look for better returns: property is generally a solid form of investment and rarely can you lose all your money, as you can with stocks and shares.
The volatility of the stock markets and problems with conventional pension schemes have made some consider property and "landlording" as a safe alternative.

Article Source: http://www.realestate-articles.info

www.landlordzone.co.uk

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