Editor's note: This brief was summarised by The Property AI Team from a report by Letting Agent Today. Read the original article for full details.
Research Finds Traditional Deposits Delay Tenant Moves
A new survey claims that 34% of tenants are delaying moving home because they cannot afford a five week cash deposit. The research, conducted by deposit replacement operator Reposit, also reports that the average deposit in 2026 has reached £1,351.
According to the findings, tenants moving between properties often have more than twice the average deposit amount tied up while deposits are transferred. The survey was based on responses from 1,000 tenants and is detailed in Reposit’s lettings market report, ‘Renting Under Pressure’.
These findings highlight the financial challenges faced by tenants in the current UK rental market, particularly regarding upfront costs. The report may be of interest to letting agents and inventory clerks monitoring trends in tenant mobility and deposit management.
Source: Letting Agent Today