The will exists in the private rental sector to provide the longer term tenancies advocated by the government, says a trade body - but incentives and the clearance of some barriers would help achieve the goal.
Communities Secretary Sajid Javid told the Conservative Party Conference last month that the government wanted longer tenancies and may provide an incentive. He said at the time: “All landlords should be offering tenancies of at least 12 months for those who want them…. That’s why, at the autumn Budget, we will bring forward new incentives for landlords who are doing the right thing.”
Now the Residential Landlords Association says the Budget, on November 22, should build on the goodwill of its members. In a recent survey of almost 3,000 of them some 63 per cent reported that they would offer a tenancy of 12 months or longer at the request of the tenant – "so the will is there" says the association.
The RLA wants the government to work with mortgage lenders to address barriers to longer tenancies – including mortgage conditions – after the association discovered that nearly one in four of its member landlords had mortgage conditions that restricted the maximum tenancy length.
The association also advocates the issuing and signing of tenancy agreements that set the tenancy at two years or more, with a six month probation, without the ability to terminate the tenancy inside that period, other than for tenant default.
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Am i missing something, the primary objective for a good majority of buy to let landlords is to have a constant income. So what is this amazing 'will'? The happiest landlord in my book is one who can say 'my tenant has been there for years'. The time government and trade bodies have to deal with nothing issues totally amazes me.
If tenants pay the rent and look after the property then they will have a long term tenancy. There is no need to impose longer terms on landlords or indeed tenants for that matter. In my experience tenants do not want to commit to a long term but will happily stay in the property for years on a month by month basis.
It isn't broke so stop trying to fix it!
I agree Gordon. If the tenants request it I always give 12 months providing the tenants are good ones. However, with all the emphasis on helping tenants to buy a home, surely longer tenancies being imposed would not help this? I have tenants who have been trying to find a house to buy for 12 months and have been on a periodic tenancy for that long; they were on a fixed term before that. Circumstances change and that should be allowed for.
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