This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Statistics from the Association of Residential Letting Agents (ARLA) suggest that tenants are staying in their rental properties for a longer period of time.
The average length of a tenancy is now at an all-time high of 20 months. This is, according to the ARLA, due to the lack of rental properties available. 58% of ARLA letting agents said that there are more tenants looking to rent than there are properties available.[1]
Managing Director of ARLA, Ian Potter said: “The private rented sector is clearly picking up the slack resulting from a flat housing market and the ongoing lack of mortgage finance.[1]
“As tenants stay in properties for longer, the importance of regulation in the sector becomes even more pressing.”[1]
[1] http://www.landlordtoday.co.uk/news_features/Tenants-now-staying-record-20-months-in-properties
