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TODAY'S OTHER NEWS

Renters spend average £670 on ‘extras’ when they move

The comparison website MoneySuperMarket suggests that renters spend an average of £670 in additional costs when they move, on top of agency, deposit and other fees. 

It says that between renting and buying, Britons typically move house 5.1 times in their lives.

The most expensive additional services include buying utensils and bedding, paying for a postal redirection service, changing service providers and installing new technology like Wifi.

Over a fifth have paid for ‘man with a van’ style services while 12 per cent have paid for professional storage between properties.

Those aged 25 to 34 have moved 4.7 times compared to 5.5 times for those aged over 55.

The website says the analysis comes just as tenants benefit from the Tenant Fees Act which, since June, has severely restricted fees on individual tenants taking up new tenancies.

While the average person moves just over five times, 11 per cent have relocated 10 or more times, at an average cost of at least £6,700. 

Common reasons for moving home include needing more space (29 per cent), moving in with a partner (28 per cent) and rent being too high (nine per cent). 

Despite this, nearly a third of renters have never insured their contents, says the survey findings.

  • icon

    Moral of the story - Don't MOVE. ( as often )
    Moving is expensive for everyone, there aren't an 'extra ' charges levied to tenants !

  • Paul Barrett

    There is no point in insuring contents.
    For most people their contents aren't worth insuring.
    Very hard to nick big screen TV's.
    You need a Transit which tend to get stopped at night as sus.
    I have never bothered insuring apart from one year.
    People just don't tend to have large expensive items anymore.
    Basically they have a TV; mobile and laptop.
    Only the TV stays at home.
    For the average person insuring contents is just a waste of money.

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