Millennials Most Likely to Fall Victim to Rogue Landlords

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50% of people have admitted to living in unsatisfactory living conditions in rented properties

54% of 25-34 year olds have had their rented properties sold by landlords without notice

Figures published from the Office of National Statistics show that the number of people still renting in their thirties are at a record high. According to the latest English Housing Survey, the private rented sector has doubled in size since 2002.

As the popularity of renting continues to rise, a professional property buying company based in the UK has taken a survey to determine the public’s opinion on rental landlords and the current state of renting in 2016.

Since 2011, nearly 3,000 landlords have faced prosecution under the Housing Act 2004. In London alone, the data reveals 2,006 individuals and companies in the UK were fined a total of £3,000,000 for housing offences.

Open Property Group found that it is the millennial generation that have suffered the most from criminal landlords. Nearly all (90%) of millennials surveyed felt conned by misleading photos they had seen prior to renting the property and over half (62%) of the age group in ‘generation rent’ have had trouble retrieving their deposit back at the end of their tenancy.

In November 2015, The Guardian suggested millennials should ignore advice and stick to renting, however new survey results suggest they should think again. Shockingly, the majority (51%) of people aged 25-34 surveyed, had to take legal action against their landlords.

Figures provided by the Ministry of Justice show that the number of evictions is increasing year on year, rising by 53% since 2010. This is reflected in Open Property Group’s own findings, where over half (54%) of millennials surveyed felt that they had been unfairly evicted.

Jason Harris-Cohen, Director of Open Property Group, says:

“Thanks to Shelter Housing, there is a renewed focus on landlord prosecution with an additional £5 million to be shared out amongst councils to take action against landlords. The new funding is part of the Housing and Planning Bill; it is great news for tenants needing help to eliminate landlord issues and also provides better living conditions and support for all. We at Open Property Group are delighted by the new funding and, in response to these figures, will be providing help and advice guides on our website for struggling tenants in need.”

You can find more results from the survey here

Article Courtesy of: Open Property Group

… LandlordZONE.

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