Longer tenancies
LANDLORDS are providing their tenants with stable long-term tenancies as people shift away from home ownership toward more flexible forms of accommodation, according to research from the National Landlords Association (NLA).
The NLA's latest quarterly landlords panel shows that over half of tenancies now last between two and three years and that almost a third (32 per cent) last in excess of four years.
However the report also finds that almost half of landlords surveyed have experienced rental arrears in the last 12 months and 37 per cent are worried about instances of arrears in the months ahead.
The research also shows that the proportion of landlords who have added property to their portfolio has risen by two per cent this quarter (from 10 per cent), with 22 per cent of landlords expecting to purchase additional property in the next 12 months.
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However, investment to meet growing property demand seems to be problematic for some, with nearly a third (31 per cent) of landlords unable to expand in the last three months due to difficulties accessing finance.
Comments
by Nevman
Thursday, September 13 2012, 1:08PM
“This 'article' bears all the hallmarks of a self-gloryifying press release from the NLA. No mention of the reasons why increasing numbers of people are forced into the clutches of private landlords, no mention of the all too common rip-offs and no mention of successive governments' ongoing reluctance to regulate the sector.
What passes for 'journalism' at the Herald involves running, jumping and crawling across Laira Bridge with a stopwatch.”
by timplymouth
Thursday, September 13 2012, 9:35AM
“This article is deceptive. Longer term tenancies are actually still very rare, the vast majority of landlords still operate on a 6 month short term tenancy that then rolls over to become a periodic tenancy that can be ended at any time by either party. The statistic you are using as your source seems to just be that people are staying in a rented property longer, it doesn't mean they are on a long term tenancy.”