There are many different reasons people choose to rent a property rather than buy. Most tenants rent temporarily although analysis of the 850+ properties we manage shows an average tenancy length of 1.7 years.
Whatever the reason, our tenant selection criteria and strict vetting is the same for all tenants who usually fall into the following categories:
- Some people rent until they can save for a deposit
- In 2009 the lending criteria is challenging and the market is volatile so people are renting until the current unrest in the market settles
- People who have sold their current home and their next purchase falls through often rent until they find a suitable alternative purchase
- Marital breakdown is a sad fact of life and many estranged partners rent
- Some older individuals who own their home outright sell to release the equity, invest and rent
- People who relocate to Peterborough for work reasons often rent before buying to “test” the area
- Some people require a second home as they own a property elsewhere and need to rent a second property close to their place of work
- People sometimes rent a property whilst building a new home
- Our existing Tenants often wait for a suitable property and continue renting with Brookdale as they enjoy the service level we provide
There are many different reasons why people rent a property.
Sometimes Tenants can be perceived as “Second Class Citizens”. This is simply not the case. The perception is understandable and often a result of bad press about the letting industry.
