Ideal lease length
11th December 2020
There is a substantial mismatch between current lease lengths and ideal lease lengths. However, there is more to it than that. Opinions on ideal lease length vary with age and household types.
For renters aged over 45, the ideal lease length for most is 24 months plus, actual lease length is most often 6 to 12 months (61%).
18 to 44 year olds ideal lease length is 6 to 12 months which 68% of tenants do have. Most sharers prefer a 12 month tenancy with the student population opting for 9 months as their preference, depending on location. Generally here in Brighton, student tenancies are around 50 weeks, to allow time for repairs and preparing the property for the next tenancy while ensuring there is no vacant period by keeping the tenancy start date in line with the academic year.
Families prefer more stability, perhaps reflecting commitment to local schools and community. 45% of families ideal lease length is 24 months plus, in reality only 23% of families have this.
Generally, all the other categories prefer a lease length of 12 months or under which most do have. However, 34% of singles and 33% of couples prefer 24 months plus. Source: Dataloft, Property Academy
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