Malcolm Harrison from the Association of Residential Lettings Agents (ARLA) suggested that the developments had seen the renting culture change, making it more acceptable.
Harrison revealed that landlords wanted to let properties quickly and so improving the standards of accommodation was the best way to ensure this: “It’s no longer the old brown carpet and awful corduroy sofa which you might have had 20 years ago. Now they’re nicely furnished, they’re properly kitted out.”
He also suggested that the notion of buy-to-let was “socially respectable” and hinted that people were not rushing to get onto the property ladder, particularly in London and Wales.
And he confirmed that the improving conditions were having a direct effect on the duration of people’s stays in rented homes. “It’s increasing all the time. At the moment we’re showing an average stay of 17 months and 25 per cent of the ones reported to us are more than two years.”
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