Cannot afford the rent
A renter often moves out when they are no longer able to cover the expense of rent. Be it through job loss or a sudden increase in expenses due to medical issues, the renter may suddenly experience poor cash flow. Through no fault of the landlord, the renter has to move out in order to find a living situation that is more affordable.
Job change or relocation
When a renter changes jobs or is relocated in their current position, they also may be forced to move out of their home. In the instance of changing jobs, renters may be looking to downsize or up-size in accordance with their new pay packet.
However, someone who needs to relocate for their job needs to move simply to be closer to their new job, forcing them to move out of their rental.
If a rental property is not being properly looked after, a tenant may become tired of the issues and look for alternative accommodation. If the renter has been on the ball and alerted the landlord of issues to no avail, or even if numerous issues arise with the infrastructure of the rental, a tenant may tire of the constant hassle and want to move out.
Many renters relocate when the market is deemed to be a renter’s market. This is a good time for renters to search for new apartments or houses, as a renter’s market suggests that there are more places available than there is demand. Therefore a tenant may move if they find a larger property or one with better amentinities for a lower price than their current residence.
In the event of marriage, divorce or separation, tenants may need to move. This change in life circumstances may necessitate a property of a different size or just an opportunity to start fresh. With these changes in personal life comes a need to relocate in order to suit a renter’s new normal.