Tenants are staying longer!!

Tenants staying for a record 20 months, says ARLA

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.
With void periods being a significant drain on profits longer tenancies can only be a good thing for landlords!