Reasons for renting – The flexibility factor

Reasons for Renting

According to The Property Academy Renter Survey 2023, over a third of renters rent because they don’t have the deposit to buy a home.

However not everyone wants to buy. A substantial 27% of renters were renting out of choice over necessity, with 37% of renters planning to continue renting for 2 years or more.

Perks of renting include the flexibility (6%), the ability to have a higher standard of living and access to amenities (2%) and to work remotely (2%).

In the over 65s age group, home maintenance being taken care of is a big draw, with 6% citing this as their main reason for renting.

#helpingyoumove in Lancaster, Morecambe, Preston, and South Ribble

Source: #Dataloft, Property Academy Renter Survey 2023