There will always be a desire to own property in this country. We have for generations, considered ourselves as conforming and ‘belonging’ with our peers once we sign on the dotted line and take out that hallowed mortgage on the first property. Before that magic day however, there is often a pereiod of renting flats and houses whilst we save up the funds for the deposit and legal fees to buy our own. It can be quite daunting to be the renter – first time away from home and all the conveniences of living with Mum and Dad. However, in earlier decades it was quite the norm for newly weds to live with one set of parents until they wer able to rent their own place and this they would do for ever and a day. It was only in the 1930s onwards that more couples began to buy their own homes. Of course, prospective landlords would be buying up cheaper properties to have a portfolio to rent out to those who were not at that stage.
There is no doubt a general perception that renting is easier from the point of view that you just rock up to see the flat or house, pay a deposit and get handed the keys. In reality, like everything of course, this is not quite the case. Landlords have to be sure that prospective tenants are legally allowed to live in this country amd are going to be able to pay the rent every month; will the landlord be able to manage his property mainteance or use an agency or property company – this eats into the profit margin. All sorts of considerations come up before a property becomes a rentable investment.