UK Tenants Are the Same Age as Landlords – LV=

The recent research carried out by LV=, a UK insurance provider, showed that the gap in age between landlords and tenants is steadily decreasing.

This might be due to the fact that the average age of first-time homebuyers in Great Britain is increasing, which means that people in their 30's are still renting a house or an apartment. Another reason, in the opinion of Mrs. Emma Banks, LV= head of PR general insurance, is the increase in the number of so-called "friend-lords." These landlords are inviting friends to rent their property.

She highlighted that no matter how close friends landlords are with their tenants, a tenancy agreement has to be put in writing. Mrs. Banks is determined that a written agreement is a guarantee to the landlord in the event of any damage to the rental property.

The statistics by LV= shortly followed the report by Scotsman, which suggests that the increase in landlord advertisements amounted to 9.8% in August 2010.

At the moment, approximately 210,000 homes in the UK have tenants.