Private tenants typically rent for 19 months
The length of time tenants spend in private rented accommodation is increasing, according to the latest figures.
Private tenants are typically renting their homes for a record duration of 19 months.
The average length of a tenancy has risen by 17 per cent in two-years - from 16 months and two weeks to around 19 months - by the end of 2011. This is according to the Association of Residential Letting Agents (Arla).
Ian Potter, operations manager at Arla, said: “Possibly as a reaction to tough financial times, tenants are spending longer in properties.â€
LSL Property Services has reported that average monthly rents dipped slightly to £711 in December 2011.
February 17, 2012
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