Eight out of 10 renters want tenancies of a year or less, 40,000-strong survey by The Deposit Protection Service (DPS) suggests.
39,855 tenants whose deposits are protected by The DPS’ responded to the survey, with 80% saying that they preferred agreements that lasted no longer than 12 months.
Almost 90% said that they preferred agreements that lasted up to two years, with 34.60% of the total saying they wanted contracts for six months or less.
Julian Foster, DPS managing director, said: “This comprehensive survey suggests that the idea that tenants crave longer tenancies is a myth.
“Like landlords, many tenants prefer the flexibility provided by shorter tenancy agreements rather than being locked into long commitments over where they live and who they rent from.
“Tenancy agreements are vital ingredients in establishing happy tenancies for both landlords and tenants, and it’s critical that they reflect the needs of both parties.”
Almost seven out of 10 tenants said that they preferred a rolling contract of one or two months’ notice at the end of their tenancy rather than a new fixed-term contract, which was preferred by 28%.
Tony, 48, from Bolton, told The DPS: “I’m currently working on a short-term contract, so a shorter tenancy works far better for me. The nature of my work means I move around so I don’t want to be trapped somewhere or risk paying large sums for no good reason.”
Mitchell, 25, a chef in Weston-Super-Mare, said: “I prefer short term contracts as they don’t tie you down to one property.”
Mary, a 74-year-old retiree from Wiltshire, said: “I preferred a shorter-term agreement because my husband and I were in between properties. We didn’t want to be tied down and, if we wanted to stay longer, we could always go ‘periodic’ at the end.”
George, 25, in Lancaster, said: “I’m a student so I need flexibility over where I live.”
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