What Is The Average Length Of Stay For A Tenant?
You want a good tenant to stay…
Why?
Because there are fewer void periods — when the property is vacant — and lower marketing costs to find a new tenant, it means less cost and more profit.
The good news for property investors in the UK is that the average tenancy length is rising.
The length of time a renter stays in your property is determined by a variety of factors, including the tenant’s personal circumstances, the property type, and the location.
> Tenants who are 45 years old are more likely to stay for four times as long as those who are 24 years old.
> Furthermore, tenants in social housing tend to stay longer than those in private housing.
> Private tenants have been in their current residence for an average of 4.3 years.
> However, in 2017–18, the average was 4.1 years, compared to only 3.9 in 2016–2017.
When choosing a tenant avatar, the average period of tenure isn’t the only factor to consider. However, it’s critical to account for these averages in your numbers.
Data: English Housing Survey
