Rising rents push tenants to consider relocation

Four in 10 tenants thinking about moving this year say they are considering doing so because of rent prices, research reveals.

The findings from CIA Landlords suggests affordability is influencing not just the type of home tenants choose, but the location they can afford.

Of those weighing up a move, 12% said they were ‘very likely’ to relocate, with a further 28% ‘somewhat likely’ to do so.

Almost half (47%), expect renting to become less affordable this year and unexpected or large rent increases would prompt 55% to leave.

Warning for the PRS

The firm’s sales director, Jackie Compton, said: “When four in 10 renters are looking at moving areas because of costs, that’s a warning sign for the whole sector.

“Renters want stability and confidence that the homes they live in will be maintained and managed fairly.”

She added: “Better communication, transparent rent-setting, and proactive maintenance aren’t ‘nice to haves’; they’re essential if we want long-term tenancies that work for everyone.”

The survey also found that 51% of tenants preferring to leave if landlords or agents didn’t address serious problems such as damp or heating failures.

Two-thirds like their landlord

There is also evidence of longer-term intent, with 81% saying they would be likely to stay in a property for five years or more if it met their priorities.

Even with affordability pressures, 67% said they currently feel favourable towards their landlord or letting agent.

Asked what matters most in that relationship, renters pointed to speed of response to repairs at 35%.

It was followed by quality of repairs and maintenance at 34%, respect for privacy and reasonable notice before visits at 31%.

The top five also included transparency over rent increases at 30%, and clear communication and written agreements at 28%.