Marks out of Tenancy

The 2013-14 English Housing Survey revealed that the number of 25-34 year olds privately renting has more than doubled since 2003-04, overtaking home ownership in the same age range, which saw a drop of 23%.

We’ve watched the buy to let market continue to grow at a phenomenal rate (a further million households are expected to be owned by private landlords over the next five years, on top of the one in five that currently stands) and currently 20% of 20-45 year olds see it as ‘virtually impossible’ to obtain a mortgage as a first time buyer.

It appears the younger generation, dubbed Generation Rent, is in for the long haul as far as living in privately rented accommodation in concerned.

The unsettling real life implication of these figures is that this majority feel they are left in a transient state. An investigation into Generation Rent by Halifax found that 54% of those surveyed never felt fully settled or ‘at home’ whilst renting and 40% said they wouldn’t want to raise children in rented accommodation, this could be down to numerous factors.

The Citizens Advice Bureaux found that 56% of renters were dissatisfied with the service provided by their lettings agent and Shelter discovered that 10% of tenants reported their health had been affected in the last year because their landlord had not dealt with repairs or poor conditions in their property, 9% of private renting parents added that their children’s health has been affected.

Sadly, for many of us the rental market has something of a black cloud hanging over it, but we’re hoping to change things for the better.

Marks Out Of Tenancy is a website set to launch at the end of 2015, where a picture of the rental market is offered through the eyes of the tenant. Most of us have had episodes with bad landlords or useless agents in the past, in fact, by now it’s almost become just another accepted aspect of the rental experience. But we think tenants shouldn’t just accept it, we think tenants deserve better.

Using Marks Out Of Tenancy, tenants can rate landlords, agencies, properties and areas to offer the most in depth image of the rental market ever assembled.

At the moment, it is a bit of an experiment.

We’re dependant on tenants joining together and sharing their experiences so we can build the biggest and most detailed resource for UK renters, populated with 100% user generated data. If it works we could be looking at huge changes to the rental market; changes to the way landlords and agencies let, changes the way tenants rent and ultimately, changes to the way people live.

But first, we have to start sharing.

Sign up now at www.marksoutoftenancy.com for more information and beta access or take a look at our twitter @marksootenancy.