In unlucky news for singletons, landlords would rather let their properties to couples as opposed to single tenants, according to a new survey by online lettings agent Upad.co.uk.
Two thirds of buy to let landlords favour letting to couples as opposed those hoping to let alone according to the new research, which suggests that tenants with a partner are more likely to pay their rent on time, respect the property and look for a longer lease.
Over half of the one and two bedroom properties let by Upad.co.uk go to couples, with many preferring to rent as a pair amidst a ‘broken housing market’ where living together might present the only affordable option. Upad.co.uk analysis suggests that over the next three years’ rents could rise by up to 10 per cent, meaning that halving rental costs, as well as council tax, utility bills and general expenses could be a welcome reprieve from expenses.
Founder of Upad.co.uk, James Davis, commented: ‘Of course there are many factors involved as to why a couple may be a more appealing prospect for a landlord. One of the biggest reasons seems to be that they are perceived to treat the property more like a home and by spreading the risk, a couple is more likely to keep up with rental payments. However, in defence of single renters, we must point out that there is always a chance that a couple may split up and this may result in complications for a landlord including the early termination of a lease and leaving them with new tenants to find.’