Property News

Tenants tending to rent for longer

Ryan - October 14, 2016

The latest investigation from Cover4LetProperty Over half of tenants in the private rental sector stay in their rented accommodation for a period of five years or more.

These surveys are conducted bi-annually from March 2013 to September 2016 and this is the eighth edition.

Longer tenancies

59% of renters said they have been in the same property for more than five years, which was unchanged from one year ago.

In October 2013, 15% of males had lived in four or more properties in the last five years, in comparison to 8% of females.

October this year has revealed that only 8% of males and 5% of females have lived in more than three rental properties, which suggests in tenants are staying put for longer.

Tenants tending to rent for longer

Tenants tending to rent for longer

79% of respondents said that opted to rent long-term, representing a rise of 15% over the last 12 months.

15% of existing renters intend to buy their own property within the next six months, down by 18% in the same period. 29% said that hope to buy in the next few years.