Tenant behaviour changes with rental rises

Tenant behaviour changes with rental rises

A survey by referencing company HomeLet has revealed that the average rent on tenancies across the UK has increased nearly 5% since February 2015, and 7.7% in London!

The results show that on average, tenants in the UK can expect to pay £744 a month, whereas London tenants are looking at a cost of around £1,520.

The HomeLet research also revealed that the number of new tenancies signed by a single tenant has dropped – which may be down to the rise in rental rates.

Tenancies that were taken on by just a single tenant accounted for just 33% of new tenancies, whereas tenancies signed by two tenants rose from 28% to 52%. Agreements signed by three or more tenants have risen by 10%, to own 15% of the market.

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