Rental market moving towards longer tenancies

[Nicholas Wallwork]

Long term tenancies could soon become the norm for people renting property in London as more people opt to stay for two to three years due to a shortage of alternatives, it is claimed. According to independent lettings agents Felicity J Lord, the trend for 2012 will be longer tenancies and this will give landlords [...]

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[doc74]

Hello, this is my first post so please be gentle. I have found this trend towards longer terms on tenancy agreements in both of my last two re-let's. Initially my reaction was positive thinking it would be great to tie in to a longer agreement and not have to go through the time and cost of finding new tenants. however on reflection wi rents increasing so significantly perhaps the advantage is more for the tenant? I'd love to hear others thoughts and how people are handling these requests for longer contracts?

 

[steph5066]

longer tenancies

Yes i agree, i ran an office for Benham and Reeves Residential lettings and over a 4 year period saw longer tenancies with people renewing over and over again but also signing two to three year contract stright away. Make sense when you see how difficult it is to get a mortgage.

 

[georgesmith80]

I hate the idea of being tied down to 1 place for so long. Especially with problematic landlords, it would be harder to escape them.

 

[gatekeeperuk]

There are several reasons idea of long tenancies will not succeed. One of them is issues that arise between landlord and tenant.
If the landlords happen to rent their property through a good property manager then it can be a success.