In 1997, over half a million income units comprising couples, lone parents or individuals, were investors in residential rental property. Just over three quarters had invested in only one rental property. Householders, as well as businesses and non-profit institutions, invest in private rental housing. Estimates from the 1996-97 Survey of Income and Housing Costs indicated that householders provided approximately half the rental housing for those who rented in the private market.
People rent for many reasons.
For example, they may choose to rent because they prefer to keep their housing options open, or they may be forced to rent because they cannot afford to buy a home. People who rent may be either in the private or the public rental housing market. Between 1988 and 1997, the apparent demand for private rental housing increased. This review uses data from both the July 1993 and June 1997 Household Investors in Rental Dwellings surveys, and relates only to people aged 18 years or more. Data from the 1993 survey is available at the person level only, whereas the 1997 survey mainly collected information on investments by income unit.