Skip to main content

Staying put in a long term let is a trend says landlord insurance specialist

Press Release   •   Sep 28, 2017 14:42 BST

Updated data* from landlord insurance specialist Cover4LetProperty reveals that the amount of private tenants who tend to stay for five years or more in the same property has increased.

The tenth in the series of surveys (carried out bi-annually from March 2013 to date) asked how many rented properties the respondent has lived in during the past five years:

  • 55% of renters have stayed for 5 or more years in the same property (up 8% from six months ago);
  • 42% of renters have lived in 2 or 3 rented properties in the last 5 years (down 6% from six months ago);
  • 18% plan to buy their own home within the next six months (down 8% in the last six months) and 40% hope to buy in a few years’ time;
  • just 3% have lived in 4 or more properties in the last 5 years (down 2% in the last six months).

When asked what made them leave a rented property:

  • over a quarter (29%) said the rent rose too much;
  • nearly 1 in ten (9%) had experienced difficulties with their landlord;
  • 5% said they bought their own home.

Ends

*Independent study carried out for Cover4LetProperty by Usurv bi-annually from March 2013 to September 2017.

About Cover4LetProperty 

With roots going back to 1946, our clients can benefit from many years’ experience in the landlord insurance marketplace. We are independent intermediaries and act on behalf of our clients in arranging their buy to let and unoccupied property insurances. Our service includes advising clients on their insurance needs, arranging insurance cover with insurers to meet those requirements and help with any ongoing changes that have to be made to their landlords insurance policies.

Contact: Stella Hulott, Speedie PR, Tel: 01843 831088, email: stella.hulott@speediepr.co.uk

Comments (0)

Add comment

Comment