What is your ideal length lease?
For renters aged over 45, the ideal lease length for most is 24 months plus, actual lease length is most often 6 to 12 months (61%). 18 to 44 year olds ideal lease length is 6 to 12 months which 68% of tenants do have.
There is a substantial mismatch between current lease lengths and ideal lease lengths. 😖
However, there is more to it than that.
Opinions on ideal lease length vary with age and household types.
Families prefer more stability, perhaps reflecting commitment to local schools and community.
45% of families ideal lease length is 24 months plus, in reality only 23% of families have this 👪
Generally, all the other categories prefer a lease length of 12 months or under which most do have. However, 34% of singles and 33% of couples prefer 24 months plus 🏡