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Tenants getting creative to avoid rising rents!
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Interesting new research conducted by comparethemarket.com has revealed that 11% of young renters in Britain are willing to sleep on someone’s sofa to avoid rising rents!
22% said that they would consider sharing a room with someone that isn’t their partner, while 9% said they would share a bed with someone to keep rents down!
Rental rises
With the housing crisis showing little signs of abating, spiralling rents mean that many tenants are thinking more leftfield when it comes to sharing accommodation.
30% of tenants said that they could do without living in a building and opt to live in a campervan!
Of course, the tightening of the purse strings comes at a cost, with people left with little or no personal space. 20% said that they could sacrifice their sex life and 10% said that they would even sacrifice comfort for lower rents!
45% of millennials said that they would turn their back on an active social life if it meant saving money.
Tenants getting creative to avoid rising rents!
Technology
Young people seem to prioritise technology over comfort when listing things that they would miss the most. 21% said that they would miss electricity and 17% said they couldn’t live without wifi
16% said that privacy was a must, while 15% noted a shower was imperative. 14% said that they couldn’t do without an indoor toilet, while 13% highlighted the need for a comfy bed!
Alarmingly, the investigation uncovered claims of friends living under stairs, in a cupboard or even a treehouse!
Gemma Sonfield, Head of Home at comparethemarket.com, observed, ‘continuously rising accommodation costs across the UK and particularly in big cities, is causing a housing crisis, especially for younger people. Millennials, often towards the start of their career, do not earn the salaries to cover typical rent, let alone the cost of a deposit on a house or flat. People are having to get creative with ways to cut costs and are seeking unusual living arrangements as a big way to save.’[1]
[1] http://www.propertyreporter.co.uk/landlords/would-you-couch-surf-to-avoid-rising-rent-costs.html
