Tenant Survey: The Rise of Insurance Deposit Schemes

28th February 2019

PRSim’s Tenant Survey (2018) finds that 70% of tenants asked would be influenced by not having a security deposit when choosing between rental properties.

Figures from the Tenancy Deposit Scheme suggest that average rental deposits in England and Wales are now £1,041. In London this rises to £1,750.

Given that deposits have to be raised prior to existing deposits being returned, this can put tenants under a financial strain.

As a result, more than 50% of tenants asked expressed a strong interest in insurance backed alternative schemes. Such schemes were particularly of interest to those on a tight budget.

Read the 2018 Tenant Survey

Younger Independents (YI)
Flexible Professionals (FP)
Budgeting Families (BF)
Reconciled with Renting (RwR)

Learn more about the Key Lifestage Groups identified by the Tenant Survey…