Are 6 month term rentals a thing of the past? Have they been phased out?

newsgroupmonkey_

Funny how the world turns.

We rented for a number of years. When our tenancy was up (owners who never wanted to be landlords decided that their "temporary" move had become permanent), we looked for somewhere long term (had two young children from previous marriage and wanted to give them stability).

Couldn't find anyone who would give us more than 6 months. In the end we managed to find someone who would give us a 12 month (with 6 months break clause both ways). We stayed there for 7 years. Would have loved a 2 year contract.

Sandtree

Certainly around here (central london) its more extremes, most landlords will want a commitment of at least a year and would prefer longer if possible but there are short term rentals that are normally monthly but there is a very large uplift in rent to compensate (though it normally includes utilities as well so a little hard to separate the rent increase -v- cost of bills).

In addition to all the costs mentioned you also have a risk of not finding new tenants immediately and so another point of concern for agreeing shorter agreements unless you can hike the price massively.

saajan_12

snarlsbukowski said:

I am looking to move after 3 years of renting in this current flat, but I find that there is no option to move to a new rental for a term of 6 months anymore and that all landlords can now demand tenants stay for a long term of 12 months. This is of course terrible for people who only want to remain in a certain city for say 5 months or so.

Is this new long term preference and the phasing out of the 6 month rent option just a symptom of the current post pandemic housing market????

I'd guess its more a symptom of the Tenant Fees Act 2019 - before that, a LL could charge for the initial set up costs and then be fairly indifferent to the length of the rental (other than a bit of hassle). Now you have to make up the initial set up costs through rent, and won't make it up over just 6 months without raising to an uncompetitive rent. 

theartfullodger

A landlord may demand what they like (within the law): A tenant may  demand what they like (within the law) so nothing stopping you demanding 6 months.

In a sensible country like Scotland tenant may at any time (including day 1..) give 28 days notice, the tenancy simply keeps rolling, landlord can only evict for certain grounds (i.e. no S21 equivalent).

Come on England, catch up!

KievLover

snarlsbukowski said:

I am looking to move after 3 years of renting in this current flat, but I find that there is no option to move to a new rental for a term of 6 months anymore and that all landlords can now demand tenants stay for a long term of 12 months. This is of course terrible for people who only want to remain in a certain city for say 5 months or so.

Is this new long term preference and the phasing out of the 6 month rent option just a symptom of the current post pandemic housing market????

I've had an alert set up for this within a 10 mile radius of me for about two months, and have had about a dozen notifications in that time. So, they do still exist, but are uncommon. Do you have 'short term' clicked on Righmove alerts?

The other thing you could try is a 12 month lease but insist on a six month break clause. We've found those tough to get in the current climate, but it's worth trying.

Thrugelmir

snarlsbukowski said:

Is this new long term preference and the phasing out of the 6 month rent option just a symptom of the current post pandemic housing market????

Most likely the impact of AirBnB. If your business model is short term letting. Might as well maximise the income while the property is actually let. Far less hassle. 

MobileSaver

theartfullodger said:

In a sensible country like Scotland tenant may at any time (including day 1..) give 28 days notice, the tenancy simply keeps rolling, landlord can only evict for certain grounds (i.e. no S21 equivalent). Come on England, catch up!

If such a policy was introduced in England, do you think this would result in more rental properties becoming available or less?

sammyjammy

MobileSaver said:

theartfullodger said:

In a sensible country like Scotland tenant may at any time (including day 1..) give 28 days notice, the tenancy simply keeps rolling, landlord can only evict for certain grounds (i.e. no S21 equivalent). Come on England, catch up!

If such a policy was introduced in England, do you think this would result in more rental properties becoming available or less?

Artful has properties in both England and Scotland.

MEM62

snarlsbukowski said:

Is this new long term preference and the phasing out of the 6 month rent option just a symptom of the current post pandemic housing market????

Nope, it is also a symptom of the fact that there are considerable costs for the landlord to put an tenant in place and set up the AST.  Last time I had a change of tenant it cost me around £1,200.  I would not want to bear that cost every six months when I can look for longer term tenants.  Also, every new tenant is an unknown entity - a risk.