Eight out of 10 in rental accommodation want tenancy agreements of one year or less, a large survey by The Deposit Protection Service has suggested.
Some 39,855 tenants whose deposits are protected by The DPS’ responded to the survey, with 80.1 per cent saying that they preferred agreements that lasted no longer than 12 months.
Some 89.83 per cent said that they preferred agreements that lasted up to two years, with 34.60% of the total saying they wanted contracts for six months or less.
“This comprehensive survey suggests that the idea that tenants crave longer tenancies is a myth” claims Julian Foster, DPS managing director.
“Like landlords, many tenants prefer the flexibility provided by shorter tenancy agreements rather than being locked into long commitments over where they live and who they rent from. Tenancy agreements are vital ingredients in establishing happy tenancies for both landlords and tenants, and it’s critical that they reflect the needs of both parties” he says.
Almost seven out of ten said that they preferred a rolling contract of one or two months’ notice at the end of their tenancy rather than a new fixed-term contract, which was preferred by 28 per cent.