Length of tenancies at a five year high

Posted on Thursday, July 28, 2016

A new report from Imfuna has found that the average length of tenancies in the UK has increased by 300% over the last two years, from 16 months in 2014 to four years in 2016.

Government figures show that the average length of residence for private sector tenants is up from three and a half years last year, to a new five-year high. The Residential Landlords Association is continuing to press the government to remove barriers to longer term tenancies, including restrictions imposed on landlords by lenders and by freeholders of leases.

However, while longer tenancies may be a good thing for tenants, landlords are out of pocket to the tune of over £5 billion every year because of damage to property and unpaid rent. Damage to landlords’ property sees them fork out an incredible £4.5 billion. (Source: Access Legal Survey, 2015).

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