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80% of renters want a short-term tenancy

80% of those renting accommodation want tenancy agreements of one year or less, according to findings from The Deposit Protection Service (DPS).

The survey, from almost 40,000 tenants whose deposits are protected by the DPS, also revealed that almost 90% preferred agreements that lasted up to two years, and 35% wanted contracts for six months or less.

Short-term tenancies are favoured with tenants who prefer flexibility rather than being locked into a long-term commitment over where they live and who they rent from.

Julian Foster, Managing Director at The DPS, said: “This comprehensive survey suggests that the idea that tenants crave longer tenancies is a myth.”

Tony, a tenant from Bolton told The DPS: “I’m currently working on a short-term contract, so a shorter tenancy works far better for me. The nature of my work means I move around so I don’t want to be trapped somewhere.”

Tenancy agreements themselves are vital, as Foster explains that they are “vital ingredients in establishing happy tenancies for both landlords and tenants, and it’s critical that they reflect the needs of both parties.”

Shorter-term tenancies are also a popular choice with students, as George from Lancaster testified: “I’m a student so I need flexibility over where I live.”

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