The cost of renting fell in the fourth quarter of 2015 – resulting in higher levels of tenant satisfaction, Paragon research shows.
The cost of renting fell in the fourth quarter of 2015 – resulting in higher levels of tenant satisfaction, Paragon research shows.
Rents fell from £660 to £607 from the third to the fourth quarter, as eight in 10 tenants (79%) said they were at least ‘satisfied’ with their current landlord.
The average length of time spent in the private rental sector increased to 14 years.
John Heron (pictured), director of mortgages at Paragon, said: “We are seeing greater numbers of families living in the PRS, and for longer periods of time. This has coincided with improved levels of satisfaction and better value, it is clear that many tenants in the PRS regard the sector as their long-term home.”
