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.”
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