Tenant Moves

Huge Wave Of Tenant Moves To Hit PRS This Year

A wave of tenant moves is set to hit the PRS, with nearly 60% planning to find a new home this year, new research reveals.

And three out of five of those tenant moves, plan to take the plunge in the next six months, according to Tlyfe, the tenant app launched by OpenBrix.

The survey reveals that 57% of UK tenants plan to move home in 2025.
Too many problems

With the most common motivation being that there are too many problems with the existing property (21%).

While other common reasons include a larger home (16%), unable to afford the rent (14%), relocation for personal reasons (14%), and the end of the tenancy (7%).

The Renters’ Rights Bill is set to become law within months, but 58% of those surveyed by Tlyfe said they won’t put their plans on hold until it has passed.
No deposit

However, more than half (51%) have not yet managed to save enough for a rental deposit, and 30% do not yet have the required paperwork in place, such as Right to Rent, ID and references.

Just 45% have identified the area in which they would like to live; 21% have registered with mailing lists to alert them of when appropriate properties land on the market; and less than a quarter (17%) have been proactive in contacting letting agents.
Adam Pigott, CEO, OpenBrix

Adam Pigott, CEO of OpenBrix, says: “Competition for rental properties is fierce and this demand is only set to grow further as we see the usual surge in market activity from tenants looking to make their move for the year ahead.

“However, it’s clear that many tenants simply aren’t ‘rent ready’, and this could put them at a severe disadvantage against the competition.”

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