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Tenants opting for long-time renting

Tenants opting for long-time renting

Category: Buy To Let

Updated: 29/08/2012
First Published: 29/08/2012

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This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Demand for longer tenancies has increased as more people are forced into rental accommodation by high mortgage rates and tough lending requirements.

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Demand for longer tenancies has increased as more people are forced into rental accommodation by high mortgage rates and tough lending requirements.

Over 50% of tenancies now cover between two and three years according to latest research by the National Landlords Association (NLA), suggesting more people envisage staying in rented accommodation over the foreseeable future.

Tough market conditions, economic uncertainty and difficulty with getting onto the property ladder are just some of the explanations behind the rise in long-term renting.

Despite being a buoyant time for landlords, many are concerned with rental arrears. Almost half stated that they had experienced issues with arrears in the past twelve months, whilst 37% are worried about arrears in the months ahead.

David Salusbury, chairman of the NLA, said: "Longer tenancies and a lower turnover rate are both signs of much-needed stability for both landlords and tenants in tough economic conditions.

"Private landlords are a key part of the investment mix required to meet the rising need for more flexible forms of housing at a time when demand for rented accommodation far outstrips supply."

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>Over 50% of tenancies now cover between two and three years according to latest research by the National Landlords Association (NLA), suggesting more people envisage staying in rented accommodation over the foreseeable future.

Tough market conditions, economic uncertainty and difficulty with getting onto the property ladder are just some of the explanations behind the rise in long-term renting.

Despite being a buoyant time for landlords, many are concerned with rental arrears. Almost half stated that they had experienced issues with arrears in the past twelve months, whilst 37% are worried about arrears in the months ahead.


David Salusbury, chairman of the NLA, said: "Longer tenancies and a lower turnover rate are both signs of much-needed stability for both landlords and tenants in tough economic conditions.

"Private landlords are a key part of the investment mix required to meet the rising need for more flexible forms of housing at a time when demand for rented accommodation far outstrips supply."

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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