Renters rush to move in the next six months

Renters rush to move in the next six months

0:03 AM, 22nd January 2025, About 4 hours ago

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More than half of the UK’s renters are looking to move home within the next six months, research reveals.

According to the tenant app Tlyfe launched by OpenBrix, 57% of renters plan to move in 2025, with 59% of those intending to do so within the next six months.

And 13% of tenants have plans to move immediately.

The most common reasons for moving include issues with their current property (21%), the desire for a larger home (16%) and an inability to afford their current rent (14%).

While the Renters’ Rights Bill aims to improve tenant protections, 58% of those surveyed said they won’t delay their move plans until it becomes law.

Tenants looking to move

The chief executive of OpenBrix, Adam Pigott, said: “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.

“Such is their desire to move, that the majority will be doing so before the Renters’ Rights Bill comes into play and, given the lack of stock to meet rental demand, this is probably a smart move if they hope to find a suitable rental property without little complication.”

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

Haven’t saved for a deposit

Despite their eagerness to move, researchers found that many renters may not be adequately prepared and 39% believe they are ready to move immediately.

However, 51% haven’t saved enough for a deposit and 30% lack essential paperwork such as Right to Rent documentation.

Only 45% have identified their desired area, 21% have registered with mailing lists and 17% have contacted letting agents.

Also, 11% of renters who are planning a move this year are utilising third-party apps to maximise their preparedness.


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