Tenants Already Living in their Homes for Long Periods

Tenants are already living in their rental homes for long periods, without the need for new laws, according to the Residential Landlords Association (RLA).

Tenants Already Living in their Homes for Long Periods

Tenants Already Living in their Homes for Long Periods

Responding to new figures from the English Housing Survey for 2015/16, the RLA believes that landlords are already delivering tenancies for long periods, which the Government has promised to introduce.

Tenants in private rental housing are now staying longer than ever in their current homes, as the proportion of renters with children increases.

The latest English Housing Survey shows that the average tenant has been in their current private rental property for 4.3 years – up from four years the year before.

Almost two-thirds of private tenants have been living in their current home for more than three years, while around half have been there for five or more years, showing that tenancies for long periods are already in operation.

The document also shows that the proportion of private rental households with children has increased from 30% in 2005/06 to 36% in 2015/16.

The overall private tenant population in England has now hit the highest level since 1961: https://landlordnews.co.uk/private-tenant-population-highest-since-1961/

The data proves that landlords are already meeting calls from the Government for tenancies for long periods, without the need for legislation.

The Chairman of the RLA, Alan Ward, says: “Today’s figures show what we have always known – landlords want to provide tenants with long-term housing. It is good for both tenants who want security and landlords who have stable tenancies.

“It is time to end the scaremongering peddled by some, and focus not on heavy-handed legislation, but looking at what more can be done to break the barriers preventing landlords offering longer tenancies, such as restrictions imposed by mortgage lenders.”

He adds: “Landlords are stepping up to the plate and providing the stability that many tenants need and want.”

Even if you supply long-term tenancies to your tenants, remember that the most reliable renters can come into financial difficulty at some point. Always protect your rental income with the ultimate peace of mind cover: https://www.justlandlords.co.uk/rentguaranteeinsurance

©2020 Just Landlords