82% of renters would have liked more financial education at school, according to Housing Hand’s ‘Understanding Renters in 2025’ report.
The push for better financial literacy comes as a 2024 House of Lords report said financial education, which has been on the UK school curriculum since 2014, was not being delivered well enough.
A Boon Brokers survey in April 2025 found 74% of young adults aged 18 to 24 did not know financial literacy was part of the national curriculum.
Only 2% of students renting in the UK said they learnt about managing housing finances at school.
Instead, 37% relied on family and 38% used online sources, with 29% using websites and 9% social media.
The report showed that among new renters, 25% felt overwhelmed, 22% felt uncertain, 21% felt anxious, 9% felt scared and 4% felt out of their depth.
Only 5% said they felt excited and 4% felt happy.
Additionally, Housing Hand found 46% did not know how deposit protection schemes worked, while 63% did not know how long it took to get a deposit back.
65% of renters said they did not know about deposit-less renting schemes and 34% did not know what a guarantor was when told they needed one.
Meanwhile, 37% of renters said they did not know how to set up utilities contracts.
58% would not know what to do if they could not pay rent and 67% of those in shared homes did not know what would happen if a housemate did not pay.
The Renters’ Rights Bill has finished its committee stage in the House of Lords and is expected to get Royal Assent in the autumn.
Housing Hand said it is working to help renters understand the financial side of renting, including changes expected from the Bill.
Graham Hayward, managing director at Housing Hand, said: “With people buying their first homes later and later in life, plus the proposed Renters’ Rights Bill expected to pass into law later this year, has there ever been a better time to help plug the rental financial literacy gap?
“Doing so can benefit renters and landlords alike, promoting more positive rental experiences and ensuring tenants feel confident and well-placed to enjoy the renting process.”
