LETTING & ESTATE AGENT

Our doors may be closed, but we’re still here for you. In line with government advice on the outbreak of Coronavirus (COVID-19), all our Martin & Co branches will be temporarily closed until further notice. The health and safety of our staff and customers is, of course, our number one priority. But while we might not be able to see you, we are still here if you need us. The Martin & Co teams are all working remotely, ensuring we can provide continuous support for all our customers. Please email your nearest branch directly through the website and, most importantly, stay safe and healthy during these difficult times

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!