To think long term tenancies are also good for landlords

[doobledootch]

The issues of short term tenancies and the negative implications these can have for renters is often mentioned on here on threads about renting, I was thinking about this and what puzzles me is why more security can't be given to tenants, surely a majority of landlords would prefer to have regular rent, not to have to pay marketing fees or have periods when the property is empty.

I do remind the landlord-haters that property rental is a business and needs to make money. That's not a crime. You all work for free, I take it?

but an empty property loses money, and unless you are in the crazy south-east dumps and over-priced places stay empty. It's called 'market forces'.

If it's important to a landlord to have long-term tenancies then they need the right kind of property and the right kind of tenant to start with. Family-sized houses let to parents with school-age kids are the type of tenant most likely to stay put. But only if the property is well-maintained and the landlord addresses necessary repair issues in good time or tenants will vote with their feet.

It is possible to have a tenancy agreement for longer than three years (in England & Wales, dunno about Scotland or NI) BUT it has to be written up as a Deed with the consequent solicitor's fees associated with having it drawn up and witnessed.

DH inherited two properties - one is a shop, he's just negotiating a (second) 10 year lease now. Its a win-win as far as I can see. The other is a house - he'd have been delighted if the current tenants had wanted a longer term arrangement even though they were paying quite a bit less than the going rate, because they were very reliable and kept the place nicely. But they've just found somewhere to buy, so back to square one finding new tenants.

My guess is that many good tenants will be hoping to eventually buy or be willing to move for better job prospects so wouldn't want to be tied to a longer term agreement. But if you are a tenant and do want a longer term agreement - no harm in doing what someone upthread did and just ask! Your landlord may be very happy to come to some agreement and maybe (as someone else said) do away with the middleman agency costs.

My understanding with mortgages is that if you agree a long term tenancy with your tenants then default on your mortgage the lenders cannot evict them? So obviously waiting for 12 months to end or 24 makes a huge difference....
Very simplified version and was just heard in a conversation so not sure the in depth legalities etc....

of course landlords need to make money and of course I dont work for free...

but my pockets arent lined on the back of making the most of a market which forces people on low incomes to live in damp, squalid, filthy conditons/ live in habitable conditions but refuse to fix anything or take money off tenants to fix wear and tear issues.

im not saying all landlords are like this but my god I have not had a landlord yet that isnt.

It is possible to have a tenancy agreement for longer than three years (in England & Wales, dunno about Scotland or NI) BUT it has to be written up as a Deed with the consequent solicitor's fees associated with having it drawn up and witnessed

A residential lease in Scotland can be anything up to 20 years. All tenancy agreements in either jurisdiction of any length need to be in writing. It's a statutory requirement.

The reference to "written as a deed" is meaningless in Scotland. A lease is a "deed". A home made one might be lacking certain formalities but accepting money in exchange for a house of itself creates a lease.

So far as having to be prepared by solicitors I'm not aware of any requirement in either jurisdiction that a document intended to give a certain legal effect (with the odd exception of documents which have to be notarised) has to be prepared by solicitors.

They have more chance of being drawn up correctly and avoiding arguments if they are but a lease is a lease no matter who typed it up.

Boomcakes largely correct except in Scotland if the tenants were served with a "ground 2 " notice before the lease started warning them there is a lender the lender can apply to the court for vacant possession to sell the house. I assume there's an equivalent English provision.

I have not come across any lender who allows longer than 6 months and month to month thereafter except for large scale portfolio landlords where the lender would not expect to sell individual houses. In those cases a lender would simply sell the tenanted portfolio.

Lots of landlords buy to let, with a view to selling when the market is right. In this case you need to be able to get the tenant out when you decide to sell. The vast majority of buyers want vacant possession so it makes a house a lot more saleable if there is no one living in it when prospective buyers come to view.

I have a number of rental properties which form part of my family farm / estate and I have no intention of ever selling them.
Most of the tenants are on 12 month contracts and one old couple who have lived in their (my) house for the last 20 years have a lifetime lease as they are good friends and our families go back years. The downside (for me) is that they are paying a fraction of the rent that I could charge a new tenant but they look after the place as if it were their own so I am not complaining.
If you get a good tenant you need to hang on to them!

We have 12 month tenancy and asked for a longer term but we were told 12 month was a maximum limit
We've been here for four and a half years and I'm pretty sure the longer lease won't be granted as the managing agent gets ££ for photocopying some papers once a year. It's money for old rope

primarynoodle my usual advice - stop renting dumps from crooks.

deposit protection stops the 'wear and tear' thing, and has done since 2007. That's why it was put in.

The longest I would ever let my property out for is 12 months, then review at 10 month point and either offer another contact or give notice. I do this simply because the market moves very fast and I need to keep pace with the local rental levels. It doesnt always go up but i need a chance to review the market and adjust accordingly. My property is my business, there to make money.

Though to be fair no one has ever asked for longer than 12 months yet as its a transient style of property in the centre of a major city.

I keep the property very well maintained. Constantly redecorating, replacing flooring, fixing leaks etc. If I didn't I wouldn't get market value and attract good tenants.

I've had some horrendous tenants who I could wait to get rid of and tbh most of these went down hill at the 8 month point in the contract for some reason, so there's no way I'd offer a 6 month probation and then a two year contract.

primarynoodle - This year we have had new kitchen taps, a new shower put in, new fence all round, garden maintained, a new back door and some general maintenance. We didn't need to decorate as our tenants did it themselves and made a good job of it.
We would live in ours ourselves and that is the standard we have.
My friend spent £6k on her property.
I don't know if we are unusual landlords , but don't understand why someone would have an investment and not take care of it.

I think it's unusual, yes.

Unusual what you do as a landlord, not what primarynoodle has described though I appreciate there are issues on either side but I would hope most people are decent and normal and treat the house like their own home whilst they are in it

I have already said not all landlords are like this..

but the ones providing "affordable" properties in popular areas in most cases are criminals that we have no choice but to rent off (various reasons for why I have to live here but not going into them)

I actually fell through a wall in my first flat that turned out to be basically made from soggy cardboard - the entire flat was smaller than than most main bedrooms - and that cost me £350 pcm!!!!

sorry this is rather a sore subject as you can tell!!

cant get out of the shitty system til next september when I start getting paid... then hopefully these imaginary nice santa landlords might start looking a bit more realistic!