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Tenants looking to remain in properties for longer, expert claims
07 Feb 2012
Increasing numbers of tenants are looking to remain in rented properties longer, in what will act as reassuring news for property owners and landlords.
While rent guarantee insurance is still considered important even with long term tenants, the fact that a spokesman for the Tenancy Deposit Scheme has made the claim will be seen as positive by landlords.
According to Malcolm Harrison, the reason behind the trend is that many people are looking to hold tight and remain in properties and jobs while the economic climate remains uncertain.
Mr Harrison said: "People don't know what is happening [with the economy] - we are in a recessionary climate. They may be in work and everything is going well with their jobs, but they are nervous so they are not going to make any major moves.
"This will decrease activity."
Halifax recently reported that 61 per cent of Britons predict the cost of renting in the private sector will increase over the next 12 months, with just three per cent believing that rents will fall.
Posted by Michael Brown
