Landlord News

Tenants now Staying for 20 Months

Em Morley - July 31, 2012

Statistics from the Association of Residential Letting Agents (ARLA) suggest that tenants are staying in their rental properties for a longer period of time.

The average length of a tenancy is now at an all-time high of 20 months. This is, according to the ARLA, due to the lack of rental properties available. 58% of ARLA letting agents said that there are more tenants looking to rent than there are properties available.[1]

Managing Director of ARLA, Ian Potter said: “The private rented sector is clearly picking up the slack resulting from a flat housing market and the ongoing lack of mortgage finance.[1]

“As tenants stay in properties for longer, the importance of regulation in the sector becomes even more pressing.”[1]

[1] http://www.landlordtoday.co.uk/news_features/Tenants-now-staying-record-20-months-in-properties