According to the National Landlord Association’s first Quarterly Tenant Index, 79 per cent of tenants are satisfied with their current landlord.
The length of time tenants remain in the same rental property also indicates high satisfaction levels; the results show that 46 per cent of tenants have lived in their current rental home for four or more years, and 24 per cent have lived in their current accommodation between two and four years.
Results show 36 per cent of tenants still reside in their first rental property.
And of the 64 per cent of tenants who have terminated previous tenancies, the majority has done so for personal reasons; 27 per cent wanted to up or down size, nine per cent were relocating for work or study, and 17 per cent had experienced a change in circumstances.
The research also reveals that, while the majority (71 per cent) of tenants rent because they can’t afford to buy, for some renting is the tenure of choice; nine per cent of tenants prefer the flexibility that renting offers and a further nine per cent say that they can afford to rent properties that they couldn’t afford to buy.
Research highlights: • The average rent in the UK is £745.97 per month; • 63 per cent of tenants report that their rent remains the same as this time last year; • 76 per cent of tenants have met their current landlord; • 42 per cent of tenants choose their letting agent based on location.