20 Sep

Tenants keen to become homeowners

Tenants keen to become homeowners

Many tenants believe they are capable of owning their own home in the future, according to a new survey.

Research from AXA shows four in tenants believe they will no longer being renting within the next five years.

There has also been a significant incase in the number of renters who are currently saving a deposit so they can step on to the property ladder.

Research from AXA also showed many landlords are worried about the high turnover of tenants, with many concerned they do not have a strong face-to-face relationship with their tenants.

Darrell Sansom, managing director at AXA Business Insurance, explained: "Short term tenancies prevail here, and while bringing benefits to some, this means that both landlords and tenants can feel as if the ground is constantly shifting under their feet.

"How can tenants create a sense of home in this situation? And for landlords, a revolving door of strangers means income insecurity, periods of vacancy with much increased risk of damage and crime and more wear and tear."

He added landlords should consider working harder to encourage more tenants to stay locker, with offering incentives such as free broadband or cleaning.ADNFCR-1222-ID-801825425-ADNFCR

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