Renting linked to ‘lower quality of life and more stress’

Renters need to hope they never get their foot on the housing ladder in a leasehold apartment. Then they really would know what suffering is... with no way out! You don't need to look too hard to see what hopelessness really feels like!

If renters were ever to become landlords, with some of their number as tenants - and presumably one claiming benefit and with hoards of children and pets, since they will no longer be able to choose who to let their property to, who could then decide not to pay the rent and to squat for months, if not years while trashing the property they spent their hard-earned savings to purchase, then they will really know what stress feels like ... and then when it comes time to pay their tax bill and they see what they aren't allowed to claim as a business expense they will also know a lack of hope.

I would imagine most landlords started adult life as renters; I did. But I never had any expectations of some form of entitlement to rights over where I lived. Why has this changed? Why should it change?

OK, if you pay your rent on time and keep the place clean and tidy, you should expect to be permitted to stay in the property for as long as you continue to do so. Why wouldn't a landlord want that? But, provided the landlord observes his obligations in the AST, that's as far as 'entitlement' should go. If you want more, it comes with all the responsibilities of property ownership.

Other surveys have shown that the reason for most tenant dissatisfaction and stress is the fact that they have to rent and are not able to buy. A mortgagee might well be stressed paying a mortgage but at least they know the end result will be their own property and no mortgage to pay especially when they retire and their income drops. There is no such reassurance for the eternal renter and worry must only increase with age.
We all know that the solution to the housing crisis is to build more homes, and as people become poorer these homes must increasingly be social homes on low rents or rabbit hutches on small plots to be affordable to buy. But who is going to be doing the building as there will be no profit in it.

I am doing my bit to relieve this terrible situation by not renting in future - can I have an award for this?

Reply to the comment left by northern landlord at 24/04/2024 - 16:11
Unless you buy as a leaseholder, which most renters will. Then you WILL NEVER OWN YOUR HOME, even after you've paid off your mortgage.

Homeowners tend to be more aspirational people than renters. They have a better understanding of adulthood.
My daughter is a home buyer. She has a crappy kitchen and an old-fashioned bathroom. She plans to replace both when her income allows.
My son is a renter. He has a lovely kitchen and bathroom, paid for by his landlord.
You pays your money, you makes your choice.

I'm not sure 'aspirational' is accurate. Renters want to become homeowners but can't afford the deposit, so we are constantly told. That suggests they are aspirational. I think the problem renters have is they expect their landlord to provide them with whatever they want, regardless of the rent they pay. That sets unreasonable expectations, and disappointment for when they do buy. That disappointment turns to despair and hopelessness when they realise how they have become trapped in a leasehold hell, from which they can't escape, no matter how aspirational they are. Unfortunately, for most first time buyers, leasehold is their only option, or worse still, shared ownership.
Sorry to keep on about leasehold, but I will keep on doing so if it means buyers avoid the problems facing millions of leaseholders. #NationalLeaseholdCampaign

Renting may negatively impact a LANDLORDS overall well-being as they experience a lower quality of life, higher stress levels, and less hope for the future compared to homeowners, a survey reveals....

If only Carlsberg did surveys....