Yes, there really are happy tenant statistics, with real-life happy tenants.
According to data produced by the English Housing Survey, 83 percent of people in the private rented sector (PRS) are satisfied with their current accommodation – a figure that you may be surprised to hear has remained the same for the last 10 years.
This is in comparison to those who are in social housing which now stand at 78 percent a fall from last year from 81%.
Not only this, but the survey reports that 75 percent of private renters are satisfied with the way their landlords carry out repairs and maintenance, the highest figure for around a decade.
In contrast, 66 percent of social renters were satisfied with the way their landlords carried out repairs and maintenance, down one percentage point from the previous year.
This may explain a few figures that we have noticed from our own data– you know we love a good graph!
We always review the number of tenancies that have ended in each year, and you can see from the graph above that the average tenancy has increased from about 20 months in 2015 to 27 months in 2020 – 2 years and 3 months. There is a slight drop in 2020 compared with 2019, which could be COVID related – time will tell on that.
What can you learn from these figures?
As a landlord, it means that the effort you put in to making sure that you have top notch properties pays off by giving you a longer tenancy
We also look at live tenancies separately, as they will always tend to be longer than ended tenancies, as the tenancies are still running! The average length of our current live tenancies is 40 months – 3 years and 4 months. In January 2020 the average live tenancy was 3 years 2 months, so it has increased by 2 months since last year. Our live tenancies tend to be almost 50% longer than the ended tenancies.