The rental sector is changing for the better because it benefits both the landlord and the tenant as well. When you have a short term lease, it doesn’t give the tenant the opportunity to lay roots down and feel that their house in their home. This can lead to insecurity within the entire community. When people rent for a longer period of time, they are more willing to take good care and have concern over the community that they live in.
Key Takeaways:
- The Government is proposing allowing people who rent in the private sector to opt for three-year tenancy terms to give them more stability and enable them to put down roots.
- Both landlords and tenants would have a six-month break clause, enabling either party to back out of the agreement.
- The move could lead to small-scale landlords, such as those with only one property, exiting the buy-to-let sector.
“Tenants could be given minimum three-year letting agreements to increase security for those who rent a home.”
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