More tenants are considering renting for longer periods of time amid the current economic crisis, it has been suggested.

Jo Eccles, director of home search company Sourcing Property, commented that those who rent do not have to worry about mortgage payments and negative equity, reports the Guardian.

Her comments come as buy-to-let mortgage holders with large portfolios have boosted their profits since the onset of the economic crisis.

A recent study of the private rented sector by Business Development Research Consultants found that private landlords had been taking advantage of falling house prices and repossessions to add more homes to their portfolios.

Ms Eccles noted that attitudes towards renting are changing, and that some former homeowners who sold up before the credit crunch took hold of the economy are in no hurry to return to the property ladder.

"They are taking a long-term view and considering a rental property to be their home,"Ms Eccles said.ADNFCR-2002-ID-19033319-ADNFCR

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