The Government has announced a consultation on longer tenancies to be offered by private
landlords with a suggested model of a 3 year tenancy term with a 6 month break clause.
The consultation is part of a review of the ways in which those who do not own their own home can be encouraged to feel they have more security, to have certainty as to rents and to put down roots in a particular area.
Landlords will be concerned about the increased risks of getting “stuck” with a tenant who is not complying with the tenancy terms, the risk of certainty on rent not keeping pace with uncertain mortgage rates and about their ability to change their mind and sell during the proposed term.
The consultation is open until 26 August 2018 and can be accessed here.
If you any advice, contact our Specialist Team on 0800 088 6004.