Longer private tenancies bid now set for consultation
The government will formally consult on proposals for longer tenancies in the private rental sector, it was announced this week.
Housing Secretary James Brokenshire said in the Commons: “We will shortly consult on options to support landlords to offer longer tenancies to those who want them.”
Chancellor Phillip Hammond said that longer tenancies could be encouraged by tax incentives in last November’s Budget, but no further details were revealed.
A recent survey of 3,000 landlords by the Residential Landlords Association revealed that 63 per cent would offer a tenancy of 12 months or longer at the request of the tenant.
But, the RLA warns landlords risk being out of pocket for longer if a tenant stops paying rent.
Research also found that nearly one in four landlords said their mortgage conditions restricted the maximum tenancy length they can offer, the RLA has said.
Another recent survey, by regional lettings agency Morgans, confirmed that many renters would be happy with 12 month tenancies.
However, Mhairi Black, SNP MP for Paisley and Renfrewshire South said: “Any action to tackle barriers to landlords offering longer and more secure tenancies has been kicked into the long grass, with the Government instead announcing yet another consultation to add to the 15 already ongoing consultations relating to the private rented sector.”
Shadow Housing Secretary, John Healey MP, raised concerns about tenants facing 'rents that are soaring way ahead of incomes', and outlined Labour’s policies for the private rented sector which include 'legal minimum standards, longer tenancies, a cap on rent rises and local licensing to drive out the rogue landlords.'