Over the last year, Martin & Co Crawley have reported on a few occasions that we have seen an increase in the length of tenancies. Now Communities Secretary Eric Pickles has announced new measures to encourage longer fixed-term, family-friendly tenancies and raise standards in the private sector.
Mr Pickles has said the Government is determined to implement steps to improve the rental market without strangling the sector with unnecessary rules.
The government will also encourage mortgage lenders to follow the recent changes introduced by the Nationwide, allowing buy-to-let borrowers the opportunity to offer longer initial fixed periods in their tenancy agreements.
David Nicholson, Director of Martin & Co Crawley said “These new measures will benefit both landlords and tenants. Longer tenancies will give families greater certainty and security, especially for those with children at school. Whilst landlords will benefit from avoiding potential periods of vacancy and will reduce their cost of having to find new tenants on a regular basis”.
If you are a landlord or investor and would like to discuss how we can help to rent your property please contact Angela or Ciaran on 01293 735000
To read more on the new measures being introduced Click Here.