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Can BTR Renting Be As Satisfying As Home Ownership?

There are numerous reasons as to why renting is the way forward and how it can bring just as much, if not more, satisfaction than home ownership. Jonathan Pitt, Director of Lettings and Residential Marketing from Grainger PLC, shares the top reasons to consider renting in 2022 and five top tips to ensure your next rental property is the best yet.

1. The all-important flexibility

“Flexibility is the all-time clincher for renters when it comes to picking their home. From short lets of just six months, to longer lets of multiple years, renters today can hand pick their length of stay to suit their needs.

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“Along with the choice between different letting periods, renting with some landlords also comes with the flexibility to relocate and reset at far greater ease.

“Taking the past few years and Covid into account, having the freedom and flexibility to move on as and when you please has never been more important. From landing a new job in a new city, to moving closer to family and friends, to simply wanting to relocate to the city of your dreams, the flexibility of renting makes it all possible.

“Make sure when you’re next looking to move into a rental apartment, you negotiate a lease term which suits your movements and provides you with flexibility that you may require.”

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2. Share your living experience with friends

“Lockdown one, two and three proved just how lonely living alone can be. Not only does renting provide an opportunity to enjoy the social aspects of living with a friend, but you also get to halve the living costs, bills, admin, and household chores - it’s also a great way to meet new people.

“Many purpose built for renting developments now offer resident meet-ups and organised events which provide a great opportunity to meet your neighbours and create friendships. It could be a small informal gathering such as a team quiz or a movie marathon right through to a summer rooftop soiree or Christmas party night. Whatever the occasion, make the effort to attend and get building friendships with those around you. 

“When looking for your next rental, ensure you research the local area and find out more about the demographics of people living in the building, that way you’ll have a better understanding of your potential neighbours and opportunities to make new friendships.

“If you’re new to a city, you may be more inclined to look for a city centre location with easy access to nearby shops and restaurants. If you’re looking for more of an escape from the city, apartments near the water and access to nature walks, may be more up your street.”

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3. Goodbye unnecessary worries 

“One of the biggest benefits of renting is that maintenance, repair or decoration work are taken care of for you.

“Many properties are also fully furnished and have been designed with modern aesthetics in mind, so you know you are moving into a place that you can be proud to show off.

“When searching for a rental property, make sure you understand the specification around maintenance and furnishing in each building, as there can be a range of offerings, from full amenities to others providing only the essentials. After all, no one wants to be dining on your lap whilst waiting for your dining table to be delivered – should it not be supplied.

“It is also useful to understand who your landlord is and how your property is managed, as everyone needs a trusted point of contact should you encounter any issues. Purpose built for renting developments often offer an onsite resident services team who are on hand 24/7 to assist with any problems and manage maintenance queries, however should you not have this service, knowing who to contact is key.”c

4. Location, location, location

“Residents can benefit from a host of safety and security measures put in place by their rental landlord. With most purpose-built rental developments offering on site security of up to 24 hours a day, helping residents to feel safe and secure in their homes.

Location, location, location is a common mantra in real estate, and for good reason. You may want to look at properties in a safe area with well-lit streets nearby, whilst also considering safe parking spaces and bike storage facilities.

“Further considerations when picking a rental property should include access to necessary amenities like green space, shops, and transport links. Having the aforementioned facilities within a walking distance will make life easier and can be budget-friendly if a car is not the main mode of transport.

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5. Access to Amenities

“Save money on your gym membership, Wi-Fi bills and the cost of working at external co-working hubs (whilst working from home), as many purpose-built rental developments today offer a host of added amenities included in your monthly rent.

“Those looking to get value when they rent should look for apartments which benefit from super-fast Wi-Fi, private gyms, dining rooms and even co-working spaces where they can work and network daily. This not only saves money on extra bills and direct debits, but also means residents have everything they need to live, work and play under one roof.

“With mental health considerations at the forefront, try de-stressing and blowing off steam by going to the gym in the comfort of your own home. If sweating it out doesn’t work, you can always utilise the socialising spaces that many rental properties offer for some wind-down time with friends or an opportunity to meet your neighbours.”

Want to comment on this story? If so...if any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals on any basis, then the post may be deleted and the individual immediately banned from posting in future.

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    After a lifetime of renting how are these people supposed to pay their rent in retirement?

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    It's up to them to work hard and save to provide for their latter years, but we all know that they won't they'll spend spend spend living the life of Riley, not my problem why would I care

     
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    My concern is that we end up paying for them through benefits. Renters are unlikely to have built up decent savings for their retirement & when they can't pay their rent (or utility bills) the state steps in - that's you & me!

    Most people can manage on less when they retire because they no longer have a direct housing cost once they have paid off their mortgage. If your costs don't drop & your income does how are you going to cope - with benefits!

     
    Ferey Lavassani

    No worries Andrew. I am certain that future labour Governments (if there will be any), will pass legislation to make these people our problem. Just wait.

     
    Theodor Cable

    It is definitely a problem of their own making. Nobody else's.

    Why did they not ensure their own security for retirement, rather that expect someone else pay for them?

    They will eventually be forced to reap the whirlwind. It is their tough s**t.

     
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    Tricia. We are not to know if they were renting or not or what they done, we don’t know their history or even if they worked. All I know I am working 58 years and still working why should I be responsible for them. I also know someone that never done very much inherited a house and lost it by flittering money away, now on the benefit system.

  • John  manley

    Who is he kidding? Ask anyone who owns there own home and they'll tell you it's the best thing they ever did. All of the so called benefits of renting are usually outweighed by the security and financial long-term benefits of owning. Yes there are some people who it does suit to rent but most people given the choice would buy,

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    Tricia - You were reading my mind, i have had the '' renting in retirement '' conversation with a few of the younger members of my shift at work, they do not see it at all, but as you say how the hell are you going to be paying an ever increasing rent per month when your income has dropped....... with great difficulty is the answer. To rent your whole life is a disaster in this country, we are not geared up for it like europe The BTR model is a sticking plaster and is there to make up for the failings of not building enough social housing. In the future there will be two types of tenant.... those who have parents who can assist them in getting onto purchasing a property and those that do not, god help the latter, their choices in old age will be very much limited and the poorer for it.

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