Landlord insurance holders could well be interested in how their properties appeal to tenants of various generations, following recent news.

New research from the Halifax bank finds that half of the UK’s population think we’ll soon become a nation of renters.

64 per cent of renters meanwhile, think they have no prospect of ever owning a home.

This trend in the rise in young people renting, is reflected in the older generations by the over 55s, according to Girlings Retirement
Rentals.

That’s because the private rental accommodation provider for retired people has seen enquiries rise by 32 per cent since 2006.

Chairman of the provider Peter Girling, however, thinks this isn’t an accurate indication of just how attractive homeownership remains, across the board.

He says: “In the UK, tenants are generally on one year contracts and can be evicted after this time by landlords – it is little wonder that with this lack of security home ownership is so attractive in comparison.”

And the main reasons for the hikes in rental enquiries are the affordability of renting and the availability of lifetime assured tenancy agreements.

However, Mr Girling says: “The UK rental market compares poorly with its European counterparts in its failure to offer long term tenancy agreements.

In Germany, where standard tenancy agreements last between five and ten years, renting is viewed as desirable and without stigma.

“Such tenancy agreements, which give security and peace of mind to older people are not commonly available to tenants in the UK.”

Girling’s reports nearly half of Girling’s tenants stated in a recent survey that they are financially better off renting.

48 per cent were said to be former homeowners who sold their properties to release capital, and invest it before renting a property.

And for rented property insurance holders looking to spruce up their properties so that it better appeals to more demographics, its been said this week that let property insurance holders should make small changes and take it from there.

Ros Alcock, consultant on professional property stylists the House Doctor Network says: “You can make very big changes just by changing wall colours and flooring.

It depends what your budget is and how much money you’re prepared to throw at it, because often you can make big changes without spending too much money, as long as things are in reasonable condition.