80% of people living in rented accommodation would prefer a tenancy agreement of twelve months or less, according to a new survey conducted by The Deposit Protection Service.
Some 39,855 tenants, whose deposits are protected by The Deposit Protection Service took part in the survey, with just over eight in ten saying they did not want agreements for more than one year.
Preferences
34.60% of respondents said that they wanted contracts to last for just six months or less. Julian Foster, managing director of The Deposit Protection Service, noted that, ‘this comprehensive survey suggests that the idea that tenants crave longer tenancies is a myth.’[1]
Nearly 70% of tenants said that they would like a rolling contract of one or two months’ notice at the end of their tenancy, instead of a new fixed-term agreement, which was preferred by 28%.
‘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,’ Foster added.[2]