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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

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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