Long term rentals

tim123456789

Long term unfurnished rental works in Germany because it is expected to work that way.

There are a few financial reasons why, but the basic reason is that LLs expect their tenants to remain long term and tenants expect to be allowed to remain long term. And that's what most people find happens.

Security of Tenure increases the longer that you have been there but the require notice period is equal both ways, so when you reach e.g. the point that LL has to give T 6 months notice to quit, T has to give LL 6 months notice to quit.

Unfurnished accommodation historically comes completely unfurnished, no fitted kitchen, no light fittings, no switch covers etc etc. Tenant goes out and buys all those things himself (and then either takes them with him when he moves, or more usually, sells them onto the next tenant). So there is definitely an incentive for the tenant to want, and expect, to stay long term

Furnished accommodation is (usually) only rented short term and works much like here

As to agency fees,

On Tenant side they are capped by statute, at a multiple of the rent which differs from region to region, but where I rented it was a maximum total charge per lifetime of the tenancy, of 120% of one months rent.

I've no idea whether the law intervenes the LL side but as it is the tenants who pay for the "finding service", contractual "lock ins" are not allowed so a LL is free to shop around for a new manager (or self manage) whenever he likes.

tbs624

markf340 wrote: »

As a landlord I'm happy to have long term tenants, and let the fixed term roll over to a periodic tenancy. Also I've never put the rent up once I have a tenant settled who is looking after the place. I'd rather have a good tenant than put the rent up by £50 and then have a month or more void looking for a new tenant which could take me 18months plus to recover.

......which is how many intelligent LLs prefer to operate. Welcome as a newbie poster btw

markf340 wrote: »

I have been asked for longer fixed term tenancies in the past and looked into it. You can do an AST for up to 5 years, but the think that stopped me was my buy to let mortgages all state that I can't do more than 12 months as either an AST or a company let, so that knocked it on the head for me.

My bolding. Whilst this is a general BTL mortgage restriction, there is no actual 5 year maximum for an AST but any AST of more than 3 years must be executed as a deed. IIRC there is also a requirement to register with HMLR for tenancies fixed for more than 7 years.

BillNBob

Thank you so much for all your useful comments.
Firstly we did have a mortgage 5 years ago, ill health and the credit crunch meant we had to sell.
We have moved 4 times in the last 5 years, the one place we loved and were told it was long term, the landlord owned many properties so we felt secure, he made us feel as though we could stay.
The house was old fashioned and hadnt been looked after so inevitably things went wrong. Maybe thats what he didnt like!
However because we felt settled we had the walls insulated and the roof lagged. We decorated, plastered the walls when they fell to bits all with the LLs permission, he even agreed the wallpaper.
He gave us notice to quit 3 months later and we had to return the house to the original wall colour. We spent a lot of money on it and were gutted.
So the question I was asking was not do any LLs give longer terms of tenancy but more how do you trust one who says they want to let long term even on a rolling tenancy.
Because circumstances change for everyone it would never be a good idea to have a long term tenancy. I work full time, am past retirement age and pay a huge amount in rent, I dont have a problem with that, but I dont want to think I will be moving every few years either.

thelem

You get the landlord to do any maintenance of the house, and move if they are not maintaining it to a standard that you are happy with.

Seems very stingy of the landlord to ask you to repaint the walls after you've invested so much on his behalf (assuming landlord approved of your improvemnets - if not then you're lucky he didn't ask you to undo them). I guess that's what you get for going with a professional landlord who's just interested in the profit, compared to someone with a couple of properties who will have more time to listen to you as a person.

Turnbull2000

If you want stability. Don't be a renter. Buy.

samwich1979

Unfortunately some people don't have the means to buy a house and renting is the only option.

Turnbull2000

samwich1979 wrote: »

Unfortunately some people don't have the means to buy a house and renting is the only option.

Then they'll just have to content with the uncertainanty of renting.

BillNBob

Turnbull2000 wrote: »

If you want stability. Don't be a renter. Buy.

Might sound like a good idea to some, not to me.
Theres no stability if you cant afford the mortgage payments and are threatened with eviction.

BillNBob

thelem wrote: »

You get the landlord to do any maintenance of the house, and move if they are not maintaining it to a standard that you are happy with.

Seems very stingy of the landlord to ask you to repaint the walls after you've invested so much on his behalf (assuming landlord approved of your improvemnets - if not then you're lucky he didn't ask you to undo them). I guess that's what you get for going with a professional landlord who's just interested in the profit, compared to someone with a couple of properties who will have more time to listen to you as a person.

The landlord was more than happy to have the cavity wall and roof lagging done, he made a point of sending his son to look at wallpaper that we wanted to put on and agreed it was OK.

We paid to have the decorating of the lounge/dining room done, it was all pale green woodchip so all had to be removed, the re-plastering had to be done as a result. Pipes were boxed in fireplace hearth replaced, oh yes he agreed it all.
We thought we were staying so it was for our benefit as well.

LL made a point of leaving the property empty until it was a year after the cavity wall had been done then re-advertised.

Lou67

theartfullodger wrote: »

You are quite sure you would want, as a tenant, a long-term commitment to pay the rent even if you had to move due to job change, family crisis, illness, getting married/family breakup , hideous neighbours, aircraft noise, mad landlord, unsafe house, etc etc?

Any long-term deal ties both tenant & landlord.

I have to agree. We signed an 18 month contract in Nov 2011, and in March 2012, we were shortlisted for social housing: 50 people bid and we were top 3! If we had got it, we would have had to have turned it down, because we were tied into a long contract. We have had to only bid once a month since, on things we know we won't get. (Although now we are getting closer to the end, we are bidding furiously on things we want!!!)

We were told we would wait at least 2 years before even getting CLOSE to an offer of housing by the way (by the council,) so this is why we signed a longer tenancy.

Also, within WEEKS of signing a long contract, the LL started being slack with repairs, and took WEEKS and WEEKS to fix stuff. We were without a shower for 2 weeks, and there's no bath! We had to go to the neighbours for showers!

Our tenancy is due up in 6 weeks, and we are not signing another long one. We have already told the property agent we want to go on to periodic tenancy, but so far, a week after them telling the landlady this, she has not confirmed whether it's OK or not.

Fine by us. The longer she fannies around, the longer we stay, because even if she says NO to periodic the day BEFORE the contract ends; she STILL has to give us 2 months notice.

If I were you OP, the longest I would sign would be 12 months, and even then, I would sign a 6 month one first, to be sure you like the property and area and landlord etc.