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GEN RENT

Millennials are calling BS on the benefits of owning a home

The white picket fence looks different these days.
  • Vuyo Radebe
By Vuyo Radebe

Director, Gnosis Investment Holdings

Published Last updated This article is more than 2 years old.

Until recently, residential property seemed to have escaped the waves of change that have transformed so many other industries.

For hundreds of years we’ve had a sector in which a feudal landlord-tenant relationship has endured. Just like centuries ago, a tenant is generally regarded as a subordinate to the landlord, who allows a tenant to occupy a property under strict conditions of a lease in return for extracting a rent from them.

This mindset exists across the property industry—the managing agent for my flat in London still sends me forms labeled “Tenant Demands” rather than invoices.

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