Should we offer longer term tenancies?

Should we offer longer term tenancies?

11:56 AM, 22nd April 2015, About 8 years ago 21

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Hello everyone,

This is the second question I have asked here, thank you for all the fantastic responses last time. Should we offer longer term tenancies

Watching the recent national political debates and attending local political debates there has been mention a few times of forcing landlords to offer longer term tenancies, I have heard three, four and even five year agreements mentioned.

I will soon have another buy to let property going up for rent and this made me wonder if this could work for me. My strategy is very much long term as my properties are intended to fund early retirement. I am currently in my early 30s so with any luck I will not be selling up for 20 years plus!

With this is mind I would be only to happy to find a tenant who wishes to stay put for several years.

Do you think it is a good idea to offer a longer term tenancy, say for three years, and would tenants be interested in this?

My initial thought when I heard this was that surely it is the tenants who do not want to be committed for this kind of time frame not the landlords?!

Perhaps there may even be some tenants reading this forum who could comment?

I am not after a big political debate, just interested in members thoughts regarding the practicality of offering a three to five year lease.

Thanks,

Jonathan



Comments

Jireh Homes

8:52 AM, 26th April 2015, About 8 years ago

Hi Guys - this thread may be going off tack. Original posting was on length of tenancy, not length of notice. The two are not the same. Political trend is towards longer tenancies, our response must be to ensure reasonable notice periods to cover all reasons. Allan

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