Long Term Tenancies Preferred in Favor of Home Ownership

According to research from the National Landlords Association people are now shifting away from home ownership with landlords providing stable long term tenancies which in turn allows for a more flexible form of accommodation.

Recent findings from the NLA’s latest quarterly Landlord Panel revealed that over half of the 546 landlords that were interviewed had tenancies lasting between two and three years, and almost a third with tenancies lasting in excess of four years.

David Salusbury, Chairman of the NLA, said: “Longer tenancies and a lower turnover rate are both signs of much-needed stability for both landlords and tenants in tough economic conditions.

“Private landlords are a key part of the investment mix required to meet the rising need for more flexible forms of housing at a time when demand for rented accommodation far outstrips supply.

“We recognise that the private-rented sector is evolving and it now accounts for 17 per cent of the UK’s housing stock. That’s why this year’s NLA National Conference seeks to educate landlords about their responsibilities, while focusing on the challenge of housing the changing needs of the population.”