LETTING & ESTATE AGENT

We are pleased to announce that following the government’s guidance on moving home during the coronavirus pandemic, our branches in England have now re-opened for pre-booked appointments, and our branches in Scotland in Wales will start re-opening their doors over the coming days. Health and safety remains our main priority, and in line with government’s advice, a number of strict measures have been put in place to protect our staff and customers. Visit our branch page to find contact details for your local office.

Do all tenants want long term tenancies?

Do all tenants want long term tenancies?

I keep on reading - mainly comments from politicians - that most tenants want long term tenancies - say 3, 4 or 5 years. If you are a tenant out there, would you have signed up for a 5-year tenancy? I suspect not!

Here at Martin & Co, we let just over 150 properties in and around Tonbridge in 2016  and, of those I don't recall too many applicants asking for more than a 12-month tenancy.

In fact, a lot ask for a break clause so that they have the option to leave early if they need to. Why? Because a considerable number of applicants are saving up to buy, or a purchase may be imminent. Others don t want to be tied down - they want the flexibility to move jobs, or to upsize if circumstances change.

Recent research by insurer AXA, has found that nationally 61% of tenants say they are happier to rent for a up to a year, while only 18% prefer a 5 - 10-year tenancy term. Clearly this is not a trend restricted to Tonbridge. So why the clamour for long term tenancies?

Policy makers - please check the facts first before forcing more change onto the Lettings Market.

Come and Ask Martin!