It is vital that the market remains sensitive to the situation of tenants according to Elisabeth Kohlbach, co-founder of real estate investment platform Skwire.
Kohlbach pointed to Yorkshire Building Society and End Youth Homelessness research, which details that no region has provided affordable rents for under-25s working full-time on minimum wage.
She said: “It is a stark reminder that ‘Generation Rent’ is being poorly served and that delivering safe, quality and affordable rental accommodation must be a priority.”
However, Kohlbach looks to the positives, noting that the industry is increasingly looking to accommodate the younger generation.
Kohlbach said: “Thankfully, we are already seeing innovative investors, landlords and operators beginning to blend affordability with offerings which accommodate young people’s preference for flexibility, for example, around lease terms and personalisation.”
An estimated 560,000 more households are expected to enter the private rented sector by 2023 and as a result, Kohlbach believes it is important the market remains conscientious of the younger generation.
She said: “It is vital that the market remains sensitive to the situation of tenants, so that “Generation Rent” can become “Generation Rent better.”