19 May

Average tenant stays for 18 months

Average tenant stays for 18 months

The average renter in the UK stays for 18 months, according to new research.

A study conducted by landlord insurance provider Direct Line for Business found the average tenant stays a year and half, although there were regional differences.

Those living in rented accommodation in Birmingham tend to stay around two years, compared to Cardiff where the average property is vacated less than a year after being occupied.  Landlords saw more favourable tenancy lengths in Leeds at 12 months and 14 months in Bristol.

Direct Line’s research also discovered that the average time it takes to fill a vacated property is an average 22 days - resulting in an average loss of £547 in potential rent.

The study also highlighted that some tenants may leave a property before the end of their tenancy agreement, with nine per cent opting to moving out before their contract expires.

“This research highlights the pressure landlords are under to replace outgoing tenants in their properties. Vacant properties are obviously a worry for landlords but it's vitally important that they take into account void periods when calculating the affordability of owning a rental property,” said Nick Breton, head of Direct Line for Business.

He added: “Staying on top of the on-going changes within the industry can be time-consuming and a battle for landlords and we fully appreciate the challenges they face when it comes to managing their rental properties.”ADNFCR-1222-ID-801818720-ADNFCR

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