Calls for long term contracts as rents at record high

JonnyBravo

homelessskilledworker wrote: »

Just out of interest Johnny, would you be happy to allow your imaginary tenants 5 year tenancies with the option to give you a month or two notice??
And out of interest would any of the real landlords allow this.

:rotfl:

Does it hurt?
That I have a BTL?
Bless.

As to your question, and I'm not sure exactly what your question is. Would I like to give a 5 year tenancy (so presumably no get out for me, short of rent arrears etc?) but have the tenant able to give only 1 or 2 month notice?
In short, so long as I could run a shorter tenancy first to establish how reliable they are for rent, then yes, that would be fine.
Good tenants are worth keeping happy.

cotleigh

PasturesNew wrote: »

Tenants want the right to stay as long as they want, without having to commit to it. After all, the house is likely to be standing there in 100 years' time.... but the individual's circumstances change and they need a 'get out' clause.

I think tenants want a kind of "right to renew" rather than a 5 year contract binding on both parties. Few tenants could practically commit to definitely renting a house for five years or longer, people's lives change a lot in that time.

I don't understand landlords who force good tenants to leave after six months or whatever.

I am a landlord, and I LOVE long-staying tenants. Most of our places have been let to the same people for years and years. I don't expect them to sign long contracts though, they are just on a standard "periodic" tenancy.

Yes, I am probably charging a fair bit less than the "going rate" but then again, I have no empty periods, no agent fees, inventory fees, advertising costs, and less maintenance (you usually redecorate places between tenants, and also long-staying tenants often decorate for themselves because they know they are going to stay and its therefore worth them making the place as they want it).