As part of our continued mission to foster a more sustainable and thriving private rented sector (PRS), we at OSB Group have embarked on a journey to deepen our understanding of tenants' needs, behaviours, and aspirations. Our commitment goes beyond financing homes; it is about shaping a rental ecosystem where landlords, tenants, and other stakeholders can prosper together. This dedication underpins our new research: Bricks to Belonging: The Psychology Behind Home and Ownership.
Why understanding tenants matters
Last year, our Future Tenant Standard research revealed that many tenants view renting as a transitional phase—an inevitable step on the journey to homeownership. For some, however, homeownership may remain an unattainable dream due to financial constraints. These findings highlighted a tension: while renting is increasingly normalised, societal pressure to own a home persists.
With this in mind, we partnered with consumer psychologists at IB to explore what drives people’s desire to own homes. The aim was to uncover both rational and emotional factors that shape these aspirations. Our findings are not just fascinating; they are crucial for landlords, brokers, and policymakers who play a pivotal role in the PRS.
Key drivers and tenant motivations
The research uncovers key drivers behind homeownership dreams, from emotional motivations like security and belonging to practical considerations like financial stability and autonomy. These insights underscore the importance of understanding tenants’ perspectives—not only as occupants of properties but as individuals with complex needs and aspirations.
For landlords, this understanding is transformative. A tenant who feels valued and respected is more likely to treat the property—and the landlord relationship—with care and loyalty. By fostering these dynamics, landlords can create stable, long-term tenancies that benefit everyone in the PRS.
Building a thriving Private Rented Sector
Our commitment to the PRS, and the research we conduct to understand it better, form part of OSB Group’s broader Environmental, Social, and Governance (ESG) strategy. The challenges of embedding ESG in specialist finance are significant but surmountable and the industry faces hurdles. However, as firms like ours continue to share knowledge and refine best practices, we are optimistic about achieving a future where ESG principles are second nature.
Our role as one of the UK’s largest specialist mortgage lenders to landlords gives us a unique responsibility to address the ESG, and other, challenges and opportunities within the PRS. Through research and dialogue, we strive to answer a pressing question: what concrete actions can we take to create a truly functioning and sustainable PRS?
Alongside our proprietary research Landlord Leaders and Future Tenant Standard - which identified key trends like the professionalisation of the landlord sector and the evolving needs of tenants - we also launched the Landlord Leaders Community in 2022. The Community brings together a group of nearly 100 industry experts to collaborate on our mission of creating a thriving PRS for those that live and work in it.
The findings from Bricks to Belonging represent the next step in our journey. We hope this research serves as a guide for those committed to shaping a better PRS, emphasising the value of “good landlords” and empowered tenants who view their rental experience as more than just a stopgap but as a meaningful phase of life.
Where next for the Private Rented Sector?
The insights from Bricks to Belonging not only inform our work but also set a broader agenda for the PRS. A thriving sector depends on balancing economic viability with social responsibility.
The PRS needs landlords who are not just property owners but community builders—professionals who prioritise the well-being of their tenants and treat them with respect. By understanding tenants’ behaviours and aspirations, we can pave the way for a PRS that is sustainable, equitable, and mutually beneficial.
As we continue our journey, one thing is clear: the success of the PRS hinges on collaboration, innovation, and a shared commitment to the people who call it home. Through research, dialogue, and action, OSB Group is proud to play its part in shaping this future.
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