Studies show that the number of tenants looking for real estate with all the bills, taking into account the rising cost of living, has risen sharply.

According to the website Rightmove, requests for rental facilities, which also cover the cost of utilities, increased by 36%.

This is when millions of people are struggling to manage their home budgets with growing bills for gas and electricity.

Tenants also stay longer in the property so as not to face rent increases when moving to a new location, the study shows.

Most tenants last more than two years (63%), and only one in five tenants (21%) stay for a year or less.

The average monthly rent advertised across the UK (excluding London) was a record £ 1,088 in the first quarter of 2022, meaning an annual increase of 11%, Rightmove said.

In London, the average rent increased by 14% per year and amounted to 2195 pounds per calendar month.

According to the website, the number of tenants requesting is also more than three times the number of tenants, making the market very competitive.

Nearly two-thirds (63%) of landlords told Rightmove that they had retained rent for their tenants over the past year.

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Homes with balconies, communal gardens, real estate that allows pets, and those that offer zero deposits have also been popular with potential tenants, Rightmove said.

Tim Bannister, Realmove’s director of real estate, said: “The shortage of rental homes and strong demand for available real estate has led more tenants to choose to renew their leases and stay in place rather than re-enter the competitive rental market.

“People who waited to see what happened last year are now facing record rents, and are therefore looking for real estate where they can have more confidence in their spending, with all bills becoming more in demand.”

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He added: “Landlords may have been tempted to raise rents given the high demand from new tenants, but many understand the affordability of rent and bill growth, as our study shows that most charge tenants the same fee a year ago.

“Many landlords have been building relationships with their tenants for a few years, and they will want to keep a good tenant for longer if they can, instead of earning money by raising rents in the short term.”

https://news.sky.com/story/cost-of-living-squeeze-sees-rise-in-renters-seeking-properties-with-all-bills-included-12611844

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