Private rental sector becomes more collaborative, research claims

An unusual psychological research exercise has shown the changing dynamics of the private rental sector.

Financial services firm OSB Group conducted the research in partnership with Innovation Bubble, and found that tenants in the UK view property as an extension of their own identity.

When this self-identity is challenged, it can drive renters to look for new accommodation. Landlords are responding to this need by shifting behaviours, with 73% open to tenants personalising their living spaces.

Some 48% of landlords ask tenants to cover decoration costs and a similar number ask tenants to cover the cost of any resulting damage.

Meanwhile 34% of landlords work with tenants to approve decoration plans, and 20% work with tenants to approve the selection of tradespeople

OSB claims this shift marks a new era of cooperation, with landlords recognising that offering tenants autonomy leads to stronger tenant-property connections and longer tenures.

Read the full article at Letting Agent Today