Renting privately: what it means to the UK market

If you're thinking of private letting, it's worth knowing the facts about this sector.

If you rent a property privately or through an agent, you'll be contributing something to the UK housing market. Private rented housing represents an essential and growing part of the UK housing market. As such, it accounts for 12% of all UK households and almost 2.6 million homes are rented from over 500,000 landlords in England.

• tenure flexibility
• assisting greater UK labour market mobility by increasing tenure choices for the young. Note that 48% of heads of household in the PRS are under 35. This compares to 20% in social renting and 13% in owner occupation
• a greater choice of housing options
• helping meet varied housing needs, including those renters receiving DSS Housing Benefits/Allowances and
• addressing significant increases in student numbers, though some argue this has contributed to a dominance of students in some residential areas.

The UK Government is aiming to strengthen the private rented sector by improving the quality of properties and landlord management of properties and tenancies. As a result, the private rental sector has been going through some important changes. Key ones include:

• implemention of the Housing Act 2004
• fostering voluntary initiatives such as landlords forums and accreditation activities and
• helping local authorities and private landlords work together to identify and address housing needs.

Find out more about the Government's work on the Communities and Local Government's Private Rented housing web page.