Following a survey carried out on 39,855 tenants whose deposits are protected by The DPS, the results showed that the large majority of tenants do not want a long term tenancy agreement.
Just over 80% stated the ideal length of tenancy to be one year or less. The main reason for this came down to the fact that most tenants like the flexibility and being tied in to long tenancy agreements, took away their freedom when situations change. In particular when the circumstantial change is out of their control, eg work relocation, family illness etc.
Landlords too often prefer the flexibility that shorter tenancies give them. Should a tenant not be working out for one reason or another or the landlord wishes to occupy the property again, they are able to make these changes a lot sooner should they not be tied in to a long tenancy agreement with their tenants.
At Martin & Co we offer 12 month tenancy agreements as standard. This has tended to work best for both landlords and tenants.