According to the latest findings by The Deposit Protection Service (DPS), there has been a substantial increase in the average duration of tenancies, rising by over 30% compared to four years ago.

The data indicates that tenants are now staying in their rented properties for an average of 924 days, up from 706 days in 2020. This extension of 218 days reflects a significant shift towards longer-term residency among tenants.

Additionally, the research highlights the challenges faced by individuals relocating to new accommodations, with a 6% increase noted in the proportion of respondents finding the transition 'difficult' or 'very difficult' between March and September 2023.

Furthermore, the study suggests that tenants are adopting various strategies to secure rental properties, including taking on additional employment. A 3% increase was observed in the proportion of tenants pursuing supplementary jobs for this purpose.

DPS managing director, Matt Trevett noted: “Average tenancy lengths started increasing during the pandemic as a result of government restrictions on moving and, despite the lifting of all restrictions in February 2022, average tenancy lengths have continued to rise.

“Responses to our regular tenant surveys suggest that the combination of competition for new rentals, high rents and other financial issues, as well as tenants acquiring a ‘lockdown pet’ are contributing to renters typically staying for longer in a property.

“Longer tenancies can also increase the likelihood of wear and tear and maintenance issues associated with a rental property; we’d therefore encourage landlords and tenants to keep an open dialogue throughout to ensure concerns are dealt with in good time as well as help avoid any dispute over the return of a deposit at the end of a tenancy due to the property’s condition.”

As the rental landscape continues to evolve, fostering collaboration between landlords and tenants remains crucial in navigating these changes effectively.