Tenant satisfaction comes from location, flexibility, and direct landlord relationships, according to new research from specialist lending bank OSB Group.

The Future Tenant Standard report found that three quarters (76%) of the 2,500 past, present and future renters surveyed said their current rental tenure suits them.

More than half (54%) live in their preferred area, and 74% say they are satisfied with the level of security.

Nearly three quarters (73%) of tenants feel they have been impacted by the lack of available housing and more than a third (34%) report difficulties finding their existing homes.

The report, which was published today (4 December), showed that while tenants cite the flexibility of renting as an advantage, only 26% said they would prefer to be renting today with the majority hoping to own their own home.

And 71% said they are frightened by the size of borrowing required to afford a property.

It also highlighted that many renters say they are feeling the squeeze of the housing stock shortage, rising rents, and negative interactions with landlords and letting agents.

Jason, a 30-year-old tenant from London, expressed some of the challenges he faced when he was searching for his property.

“I felt like I had to pick damaged goods in a bag of damaged goods,” he told the researchers.

The research also showed 59% of tenants have experienced rule breaches like unreasonable financial demands or discrimination from their landlord and a fifth (20%) feel the poor quality of their property has impacted their health.

OSB Group managing director mortgages & savings Jon Hall said: “The private rented sector is housing the nation. With landlords and tenants across the country facing the challenges of navigating a higher cost of living, and higher interest rate environment, it’s important to look at what is working and what needs to change to help the sector thrive. This research reinforces our ongoing view that the journey to the professionalisation of the private landlord sector is key to helping them deliver the best experiences for the nation’s renters.”

Independent landlord Suzanne Smith agreed that forging strong relationships is fundamental.

Smith, who is a founding member of the OSB Group Landlord Leaders Community, said: “The key is having a good relationship with tenants. We are providing their home.”

UK Finance mortgages policy manager Ronnell Reffell added: “In the UK, home ownership is seen as the pinnacle and renting is seen as a second-class tenure. But lots of people rent today and they really want to rent. It’s great for them, and benefits such as not dealing with property maintenance are important for people. The findings of the OSB Group research support our view that it is better for the sector if it becomes more professionalised.”