- Longer tenancy plans to give renters more security
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Posted 02.07.18
GOV.UK: Article link
In plans just published, Secretary of State for Communities proposes the introduction of a minimum 3-year tenancy term, with a 6-month break clause, to help renters put down roots, and give landlords longer term financial security.
According to government data, people stay in their rented homes for an average of nearly 4 years. But despite this, 81% of rental contracts are assured shorthold tenancies with a minimum fixed term of just 6 or 12 months.
This can lead to tenants feeling insecure, unable to challenge poor property standards for fear of tenancies being terminated, and unable to plan for their future or contribute to their wider community.
Although tenants and landlords can already agree longer terms between themselves, the majority choose not to do so.
Under the proposed longer term agreement, tenants would be able to leave before the end of the minimum term, but would have greater protection if they wanted to stay in a property for an extended period of time.
An 8-week consultation on the plan has been published, specifically looking at overcoming the barriers to landlords offering longer tenancies.
The 3-year model is one of a range of options and the consultation seeks views on longer minimum tenancies, which are used in other countries, as well as ideas on how to implement the model agreement.
