The Growing Trend of Long-Term Renting
Renting used to be seen as just a stepping stone to homeownership, but that’s changing. More renters are choosing to stay in their rental homes long-term, with many now making their rental properties feel like their permanent homes
Renting used to be seen as just a stepping stone to homeownership, but that’s changing. More renters are choosing to stay in their rental homes long-term, with many now making their rental properties feel like their permanent homes. In fact, a recent Property Academy Survey (2024) shows that 25% of renters are choosing to rent rather than buy, with many planning to stay for more than five years.
Landlords are noticing this shift and are adapting. More are allowing tenants the freedom to decorate and make improvements to their homes. They’re also working more closely with tenants to discuss plans and approve necessary changes.
Building strong relationships between landlords and renters benefits everyone. When tenants feel comfortable and happy in their homes, they’re less likely to move out, which helps landlords avoid costly void periods and unexpected maintenance.
In today’s rental market, it’s clear: renting isn’t just for the short term anymore. It’s becoming a long-term lifestyle choice that works for both tenants and landlords.
Source: Dataloft by PriceHubble, OSB Group, Innovation Bubble, Property Academy
