Renters 'should get used to longer contracts'

Renters 'should get used to longer contracts'Longer tenancies could soon become the norm for renters.

This is the expert opinion of Mark Hayward, chairman of the National Federation of Property Professionals, who noted there is pressure in the market at the moment to make this the new standard arrangement.

It means anyone looking for lettings in London may have to sign a longer contract than they are used to. Mr Hayward observed there are two reasons why this is the case - firstly because of the security it offers and secondly that renting is now viewed as a perfectly acceptable way to live.

"I think that if the private rented sector is ever going to attract significant corporate investment, then those investors are going to have to see longer-term tenancies in place to protect their returns and their investment," he added.

Mr Hayward remarked this practice is very popular in Europe, with people from Spain, France and Germany quite happy to lease houses for a sustained period of time. Another benefit of this system is that householders are much more likely to take good care of the dwelling if they know they will be living in it for a number of years.

The specialist - whose group was formed in 2007 to facilitate the coming together of specialist divisions within the property sector - noted renting has become a more popular option out of necessity.

"Either ... they can't get onto the housing market because they haven't got a sufficient deposit, they don't fit the lending criteria or they don't think that the market is moving forward," he stated.

Figures show that between 12 and 14 per cent of homes are now leased and this figure is expected to rise to 20 per cent by 2020. However, Mr Hayward said one of the main problems at the moment is there is a lack of stock to meet the demand currently being experienced in the private rented sector.

Unless the construction industry picks up, this could continue to be a problem for years to come.

Posted by Chris Price

Published 29th June, 2012

© 2012 Estates IT Limited

Latest London Property News Headlines

St John's Wood brings the village atmosphere to the capital

St John's Wood brings the village atmosphere to the capital

St John’s Wood is a great location for people looking to capitalise on all the benefits of London living without being caught up in all the hustle and bustle. 

Read Article ... Published on 26th May, 2015

Yeading: Enjoy peaceful city living in an up-and-coming area

Yeading: Enjoy peaceful city living in an up-and-coming area

Yeading is a laid-back and peaceful residential area situated north-east of Hayes and is one of the most up-and-coming areas of the capital.

Read Article ... Published on 26th May, 2015

Hanwell: A green, peaceful environment for Londoners

Hanwell: A green, peaceful environment for Londoners

Hanwell is a small town located in the Borough of Ealing and is in between Ealing and Southall, providing excellent transport links to the rest of the capital.

Read Article ... Published on 26th May, 2015

Mitcham Carnival announced for June

Mitcham Carnival announced for June

Mitcham Carnival has been announced for Saturday June 13th at Three Kings Piece.

Read Article ... Published on 22nd May, 2015

Hammersmith and Fulham Council start Park consultation

Hammersmith and Fulham Council start Park consultation

Hammersmith and Fulham Council have launched a new consultation on Hammersmith Park, inviting local residents to have their say on the area and how it can be improved.

Read Article ... Published on 22nd May, 2015

New conservation areas planned around Waltham Forest

New conservation areas planned around Waltham Forest

Waltham Forest has announced plans for two new conservation areas near Lloyd Park and Bakers Arms town centre. 

Read Article ... Published on 20th May, 2015

Sutton Council announces Take Part Take Pride summer festival

Sutton Council announces Take Part Take Pride summer festival

Sutton Council has announced its Take Part Take Pride summer festival.

Read Article ... Published on 20th May, 2015

Brent Council teams with Brent Housing Partnership in new project

Brent Council teams with Brent Housing Partnership in new project

Brent Council has partnered with the Brent Housing Partnership as it aims to improve the standard of housing for local people.

Read Article ... Published on 19th May, 2015

Gardeners prepare for Islington In Bloom

Gardeners prepare for Islington In Bloom

Islington Council is preparing for this year’s “In Bloom” event by teaming up with local gardeners to identify the best greenery available in the area.

Read Article ... Published on 15th May, 2015

New fitness centre set to open in Manor Park

New fitness centre set to open in Manor Park

A new fitness centre is expected to be opened in Manor Park by Newham Council. 

Read Article ... Published on 15th May, 2015

Tenants will be taking out increasingly long contracts in the coming years.

Renters 'should get used to longer contracts'

Do you want a Short Let?

Do you want a Commercial Let?



Like this?
Share this
Follow Net-Lettings
Facebook Net-Lettings.co.uk Twitter Net-Lettings.co.uk RSS Feed
Follow Estates IT
Facebook Estates IT Twitter Estates IT RSS Feed

Net-Lettings.co.uk

Net-Lettings.co.uk was one of the first property and agent directory websites on the internet launched in 1996. We still believe in simplicity today. Use this London Lettings Directory for all your rental property needs whether a Tenant or Landlord.

Subscribe to RSS feed, or bookmark us so you do not miss any London News Articles we publish.

London Areas

London is a diverse community of people. There are many areas to choose from we have around 245 that appear on the map and approximately 338 total London areas. Here are just a few of the latest hot areas.

Letting Agents Docklands
Letting Agents Camden
Letting Agents Notting Hill
Letting Agents St John's Wood

Advertising & Sales

This site offers Letting Agents low cost effective advertising of their web site. We are not a Letting Agency but connect you directly Lettings Agents in your required area. Letting Agents see below options available with Net-Lettings. You can contact or follow us below.

Advertise on this site ...
Register with us ...
Need Letting Agent Software?