Recent research reveals a notable change in the focus of tenants in the rental market, primarily centered around economic affordability, legal rights, and eviction notices. This trend reflects the challenges and concerns tenants currently face, serving as a reminder to the government and the real estate industry to pay more attention to tenant needs.
From an economic perspective, tenants' focus on the affordability of rent has significantly increased. With the continuous rise in rent levels, tenants are becoming more mindful of their economic burden. This is evident in the 81.2% increase in search term popularity for "rental affordability," highlighting tenants' growing awareness of the financial pressure associated with rental expenses.
Concerns about legal matters are also on the rise, especially regarding tenants' legal rights and eviction notices. With the introduction of new provisions in the Renters' Reform Bill, including suggestions to abolish Section 21 eviction rules, tenants' concerns about their rights and the fear of eviction are intensifying. This trend not only reflects tenants' pursuit of legal protection but also underscores their emphasis on the right to reside securely.
Furthermore, tenant interest in seeking new properties has decreased by 52.5%, indicating a preference for staying in their current residence rather than moving. One significant reason for this is the increase in rent, making the cost of moving prohibitively high and prompting tenants to focus more on their current rights. This also suggests that landlords and property developers need to consider how to safeguard tenants' interests by providing more stable and reasonable rental levels.