Private Renters Are Staying Longer: What This Means for Landlords

A common argument from tenant groups is that private renters face “insecurity of tenure,” but the latest data from the English Housing Survey tells a different story.

In 2023-24, the average private renter stayed in their home for 4.6 years—a significant increase from 3.7 years in 2010-11, and this trend has been steadily rising. Clearly, private rented homes are offering more stability than critics often claim.

The Bigger Picture for Landlords

Despite the narrative of insecurity, many tenants are choosing to remain in private rental homes for longer periods. This is good news for landlords who value long-term, reliable tenants, as longer tenancies often mean fewer void periods and reduced turnover costs.

However, these findings come at a time of significant policy changes in the private rented sector, including the proposed end of Section 21 no-fault evictions.

Government’s Take

Housing and Planning Minister Matthew Pennycook has doubled down on his stance that the removal of Section 21 will not lead to an exodus of landlords or a reduction in housing availability. Speaking recently, he stated:

“First of all, a home doesn’t vanish in a puff of smoke [with the end of no-fault evictions]... I don’t think there’s any evidence of an exodus of landlords. None of the statistics bear this out.”

What the Numbers Say

The English Housing Survey also revealed:

• 57% of private renters (2.6 million households) expect to buy a home in the future, down from 61% a decade ago.
• Among those planning to buy, 39% expect to purchase within 2-5 years, an increase from 35% in the previous year.
• In the last year, 1.8 million households moved, with half of these moves involving the private rental sector (PRS).

What Does This Mean for Landlords?

While tenants are staying longer, the policy landscape remains uncertain. The combination of rising tenant stability and legislative changes like the end of Section 21 presents both opportunities and challenges:

1. Longer tenancies can be beneficial for landlords looking to reduce turnover costs and maintain steady rental income.
2. Legislative changes could make it harder to address problem tenancies, emphasizing the importance of thorough tenant vetting and proactive management.

What Should You Do?

At Confidence Property, we help landlords stay ahead of the curve in a changing rental market. With tenants staying longer and the legal environment shifting, now is the time to ensure your properties are compliant, well-managed, and positioned for long-term success.

Need support navigating these changes? Get in touch today—we’re here to help!