Difficult finding a home
Matt Trevett , the organisation's managing director, said: "The average tenancy increased during the pandemic, largely because of emergency restrictions on moving.
"Our data show a year-on-year increase in the average number of days our tenant customers spend in a property since February 2022, when those restrictions ended."
He added: "Difficulties in securing rentals and the prospect of paying higher rents for a new property mean that many tenants are staying put for much longer."
Rents are also up
The cost of renting a home has also risen, TDS says.
The rental deposit, which fluctuates in line with rent prices, has increased from an average of £948 in 2022 to £1,170.63 by May this year, reflecting a 23.36% rise.
This upward trend in deposits mirrors the broader increase in rents, adding further pressure on tenants considering a move.
Fewer student tenants struggling
The deposit firm's charity arm, TDS Charitable Foundation, has also revealed this week that fewer full-time students are struggling with rent.
It found that there has been a big drop in the number from 45% to 32%.
Across the rest of the PRS, other tenants also say that their financial pressures are also easing, with 32% reporting struggles to afford rent, down from 35% last year.
The charity also carried out a survey of private landlords and found that 23% of them in England have increased their property portfolios over the past year, up from 19% last year.
Of the landlords who did buy, they bought an average of 2.5 homes each, compared to 2.3 homes being sold by those landlords who offloaded properties.
The proportion of landlords selling remains steady at 14%.
Steve Harriott, the chief executive at TDS Group, said: "Measures in the Renters' Rights Bill to help tenants challenge unreasonable rent increases will count for nothing unless they are equipped with the information about rents and provided with the detailed information that they need to exercise these rights effectively."
Tenants reluctant to move
The managing director of Accommodation for Students, Simon Thompson, said: "The combination of longer tenancies and rising deposits paints a picture of a rental market where tenants are increasingly reluctant to relocate.
"With higher rents and limited availability of properties, many are choosing stability over change, reshaping the dynamics of the country's housing landscape."
He added: "In addition, it is good news that fewer students are struggling to pay rent and that more landlords are investing than selling."
