The amount of time tenants are spending in a property is falling which means landlords may have to find new ways finding people to move in and sign tenancy agreements on their properties.
According to upad, in London the average tenant stays in a property for just under 17 months.
Furthermore the number of people on both sides of the tenancy agreement has increased, meaning there are now over one million landlords and 5.2 million tenants in the UK.
James Davis, founder and chief executive officer at upad, said that "the tenant market has gone up by 13 per cent in the last three years alone so rather than being a small group of individuals, you have got a high quantity of individuals".
The price of rent has gone up in November as, according to Rentright's Residential Rental Price Index, the average person pays £635 per month compared to £501 in October.
Published on: November 26, 2008