Longer term tenancies needed to enable tenants to plan for the future
More needs to be done to focus on improving renting rather than obsessing over property ownership, according to a specialist provider of retirement rental properties for the over 55s.
Peter Girling, chairman of Girlings Retirement Rentals, wants to see longer private tenancies introduced to give the majority of renters the one thing they crave most of all – “greater security of tenure”.
He commented: “In our latest customer survey carried out in October 2016, we found that 85% of people wanted a tenancy of 12 months or more and 71% said that the security of assured tenancies we offer that enable residents to rent their property for as long as they choose, mattered most to them when making the decision to rent.”
Girling’s comments come just days after Citizens Advice announced that it will be stepping up its campaign for longer tenancies, in an effort to overhaul the private rented sector.
According to its figures, 39% of people living with their children in rented homes have a tenancy of six months or less, which creates uncertainty.
It also found that 34% of private renters would like their tenancy to be longer, rising to almost 40% amongst those with children. Families now make up almost four in ten private rented households.
Girling added: “Like Citizens Advice, we believe that should longer tenancies become more widely available for all sectors of the market – from young professionals, to families and older people – this may remove the uncertainty people face and give them more reassurance and greater security of tenure to plan for the future.”