Did you know? A recent survey conducted by Rightmove shows that the average length of a tenancy has increased to over 2 years. To some landlords, this might not sound like a long time, but when you consider that back in 2019, Lettings today reported it was just 9 months – you can see start to see that tenants are stopping longer!
Last year 20% of landlords reported an increase in the length of time their tenants stopped. It is thought this is due to rising rents on new properties coming available coupled with rising household bills.
Many landlords have recognised that the cost of living is becoming more difficult and despite the fact that rents have risen so quickly and they could now achieve considerably higher rents, many have opted to only make smaller increases or no increase at all.
It’s a difficult situation for tenants. Many choose to rent due to the flexibility and freedom is used to give them, but now over triple the number of enquiries v the number of homes available to rent, it is becoming harder for tenants to move on.
At JDG we look after over 300 rental properties. We have several tenants that have let through us for 8 years and longer and many over 5 years. Can we help you find a superb tenant for your rental property?
My name is Josh Heron. You can call me on 01524 843322 or email me at josh@jdg.co.uk
Thanks for reading
Josh