PROMOTION
HOUSING is an emotive issue, a political hot potato, so the question of whether long or short-term lets are better for tenants is a prickly one where everything is not just black and white. At Intus Lettings, we'd like to try and find what's right for our tenants and our landlords.
Young professionals value the ability to move where work takes them
Currently, there seems to be a push towards longer-term lets from housing groups and charities such as Shelter. For families, who are relying on a secure home in which to bring up their children, long-term tenancies would bring more security and reduce the likelihood of rent increases.
However, the problem does not necessarily always lie with heartless landlords, but with the limited housing stock. If more homes to rent were available, greater competition would ensure that landlords felt more willing to offer longer contractual tenancies.
City centre lettings often attract different kinds of tenants who are more attracted by the flexibility of short-term contracts. According to the Deposit Protection Service, eight out of ten renters are seeking tenancies of a year or less and 70% of those questioned preferred rolling contracts with a month or two month's notice at the end of the contract, rather than a new fixed-term contract.
Intus Lettings have found that most tenants are reluctant to take on a contract of anything over six months, even though longer-term contracts would protect them against rent increases.
Young professionals value the ability to move where work takes them, rather than being tied to the rental market, above the stability of longer term lettings.
Different people have very different needs when it comes to rental accommodation. One thing is for sure – whatever type of let you're looking for, tenancy agreements play a vital part in establishing successful tenancies for both landlords and tenants alike. It's critical these agreements reflect the needs of all parties.
Intus Lettings work hard to make sure they match up the right tenants with the right properties so both landlord and tenant are looking for the same thing.
Find out more about Intus Lettings here.
