Only 32% of Basingstoke Rented Properties have Children living in them.

A few weeks ago I was asked a fascinating question by a local Councillor who, after reading the Basingstoke Property Blog, emailed me and asked me – “Are Basingstoke Landlords meeting the Challenges of tenants bringing up their families in Basingstoke?”

What an interesting question to be asked.

Irrespective of whether you are a tenant or a homeowner, to bring up a family, the most important factors are security and stability in the home. A great bellwether of that security and stability in a rented property is how long a tenant remains in the property before moving. There is a common perception that many tenancies last just six months with families at risk of being thrown out or evicted after that with just two months’ notice and often without reason.

Some politicians are suggesting that we need to deal with the terrible insecurity of Britain’s private rental market by creating longer tenancies of 3 or 5 years instead of the current six months. However, the numbers seem to be telling a very different story. The average length of residence in private rental homes has risen in the last 5 years from 3.7 years to 4 years (a growth of 8.1%), which in turn has directly affected the number of renters who have children. In fact, the proportion of private rented properties that have dependent children in them, has gone from 29.1% in 2003 to 37.4% today.

Looking specifically at Basingstoke compared to the National figures, of the 5,843 private rental homes in Basingstoke, 1,872 of these have dependent children in them (or 32%), which is interestingly (although expected) below the National average of 37.4%.

Even more fascinating are the other tenure types in Basingstoke…

·         37.7% of Social (Council) Housing in Basingstoke have dependent children

·         43.8% of Basingstoke Owner Occupiers (with a Mortgage) have dependent children

·         8.4% of Owner Occupiers (without a Mortgage) have dependent children

Although, when we look at the length of time these other tenure types have, whilst the average length of a tenancy for the private rented sector is 4 years, it is 11.4 years in social (council) housing, 24.1 years for home owners without a mortgage and 10.4 years of homeowners with mortgages.

Anecdotally I have always suspected something similar, but this just proves landlords do not spend their time seeking opportunities to evict their tenants, as the average length of tenancy has steadily increased. This noteworthy 8.1% increase in the average length of time tenants stay in a private rented property over the last 5 years, shows tenants are happy to stay longer and start families.

So, as landlords are already meeting tenants’ wants and needs when it comes to the length of tenancy, I find it strange some politicians are calling for fixed term 3 and 5 year tenancies. Such heavy handed regulation could stop landlords renting their property out in the first place, cutting off the supply of much needed rental property, meaning tenants would suffer as rents went up. Also, if such legislation was brought in, tenants would lose their ‘Get Out of Jail card’, as under current rules, they can leave at any time with two months’ notice, not the three or six month tenant notice suggested by some commenters. 

 

Finally, there is an extra piece of good news for Basingstoke tenants. The English Housing Survey notes that those living in private rented housing for a long periods of time generally paid less rent than those who chopped and changed.