Tenants now staying record 20 months in properties |
Tuesday 31st July 2012
Tenants are staying longer, with the average length of tenancy now standing at a record 20 months.
The Association of Residential Letting Agents says the increase is because of lack of rental properties, with 58% of ARLA agents saying that there are more tenants than properties available.
Ian Potter, ARLA managing director, said: “The private rented sector is clearly picking up the slack resulting from a flat housing market and the ongoing lack of mortgage finance.
“As tenants stay in properties for longer, the importance of regulation in the sector becomes even more pressing.”
The Association of Residential Letting Agents says the increase is because of lack of rental properties, with 58% of ARLA agents saying that there are more tenants than properties available.
Ian Potter, ARLA managing director, said: “The private rented sector is clearly picking up the slack resulting from a flat housing market and the ongoing lack of mortgage finance.
“As tenants stay in properties for longer, the importance of regulation in the sector becomes even more pressing.”
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