In light of new research released by the Affordable Homes Alliance recommending that landlords should increase their tenancy contracts up to twenty four months, Rick Flay director at Belvoir, the leading Sheffield lettings agency, has welcomed the announcement and says it has his full support.
The recent report on affordable housing found that despite its recommendation for tenancy contract to be increased, 82 per-cent of tenants and landlords were opposed to such plans amidst concerns that there would be no release from bad tenants.
Rick Flay, Director at Belvoir Sheffield, who offer a wide range of property to let Sheffield, said: “As a landlord there are many benefits to offering longer contracts because providing that you find a great tenant, you have a steady stream of income and no void periods.
“Extended contracts make people anxious, because they assume that the landlord may request larger rental income from them or that they will be unable to move, but in the current climate many tenants are looking for more stability, especially as good properties are hard to come by.”
The research also revealed concerns from flat sharers concerned that a 24-month tenancy could place further restrictions on the tenants landlords will accept as they seek to reduce their risk, with stricter rules on deposits and guarantors. It is unclear whether the proponents of these changes have taken such factors into consideration.
Rick the expert in property lettings services in Sheffield, added: “It seems that landlords are voicing their concerns over this due to current lending regulations and possession laws and feel that they do not go far enough in allowing them to get rid of bad tenants and keep good tenants. Here at Belvoir Sheffield, our response to this is that landlords need to conduct thorough checks in the first instance to protect themselves from bad tenants. Providing that this is done professionally, landlords will have great tenants for a longer period of time which is obviously a huge positive.”
Belvoir Lettings Sheffield is the One Stop Specialists for Lettings including Property Management, Tenant Find, Investment and Wealth Management Advice, Fit-outs and Renovations, Furniture Packs and Investment Property Insurances and Buy-To-Let Mortgages.
