Landlords warned they must prepare for longer tenancies

Landlords warned they must prepare for longer tenancies

According to the Association of Independent Inventory Clerks (AIIC), landlords and property managers must now prepare for long-term tenancies as data shows the average private tenancy length is now four years – up from three and a half years in the previous survey.

The organisation says heightened preparation must include thorough administration and more thought about the choice of furniture and interior design themes.

It also found that some 46% of 25-34 year-olds lived in the Private Rented Sector in 2014-15, up from 24% in 2004-05.

Patricia Barber, Chair of the AIIC, said: “Despite numerous reports suggesting that the average tenant doesn't want a long-term contract, the official statistics show that average tenancy lengths are increasing – particularly among families – as people rent for longer.”  

The organisation says that these figures should encourage landlords to think harder about what will make their rental property feel more like a home and what can be done to facilitate renters staying in their property for longer.

Barber also states that the phenomenon of long-term renting highlights how important it is for landlords to be organised and make sure they're on top of their administration duties.

She said: “When tenants stick around for longer, often the chances of confusion and disagreement over certain issues are increased when the tenancy does eventually come to an end. The longer time goes on, the more likely landlords and tenants are to forget details from the tenancy agreement or important information about the deposit, and that's why stringent administration – keeping copies of everything and organising it accordingly – is so important.”


The AIIC reminds landlords that this need for evidence and records – especially for long-term tenancies – demonstrates the value of a thorough and professionally-prepared inventory carried out at the start of the rental.

Barber continues: “There are more grey areas over the condition of a property the longer a tenancy goes on. A detailed inventory will help landlords and tenants to determine exactly how the property's condition has changed over the course of the tenancy, what can be deemed fair wear and tear and what needs to be replaced and therefore deducted from the tenant's deposit.”

Should a dispute arise at the end of a tenancy, the AIIC maintains that a detailed inventory, which has been signed and agreed by the tenant, is the most important piece of evidence available to a landlord or letting agent.

This year the AIIC is celebrating its 20th anniversary – which will be marked at the organisation's annual awards dinner, where the winner of Inventory Clerk of the Year will be announced.

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ChristinaReedUK
ChristinaReedUK 20 Jun 2016

I don't understand why it's always a war between the two sides. Either, way the landlord is probably keeping a detailed inventory and will see the changes you've made. I just don't understand why there...

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NathanGreen
NathanGreen 16 Jun 2016

Seeing that the tenants are quite satisfied with their landlords and the properties is indeed great. I wonder, though, what is the situation in London alone? The tenants face sky-high rent levels in the...

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AndiMur
AndiMur 15 Jun 2016

TheGuardian published the same forecast. But on the other hand, professional brokers express different opinions. According totranio.com, an exit from the EU would not affect the demand/supply imbalance...

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Gary Holmes
Gary Holmes 14 Jun 2016

Having a professionally completed inventory at check-in and check-out is clearly (to me at least) of minor value. Tenants make un-authorised modifications and/or walk off with items that belong to the

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Violet Gibson
Violet Gibson 14 Jun 2016

Cautious people think buying off-plan is reckless, but over the past few years investors have literally made fortunes.Pre-release prices have obvious benefits for the developer, who gets instant finance...

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Kate Windleton
Kate Windleton 14 Jun 2016

An interesting research indeed. I guess that is in complete contrast with the United States where people often move from one coast to another. It will be interesting to hear the trends for people moving...

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NathanGreen
NathanGreen 14 Jun 2016

I think it all depends on the market conditions and how well your company is doing. You will agree that you can't demand more when you're killing yourself just to hang in there. Sometimes you need all

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ChristinaReedUK
ChristinaReedUK 13 Jun 2016

What does "detecting a bad vibe" mean actually. I've had certain vibes like these and yet have always found a reason , if there's any, why I don't like a certain property. The property maintenance might...

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keybanks estates
keybanks estates 08 Jun 2016

Great News for first time buyers, about time two!

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NathanGreen
NathanGreen 07 Jun 2016

I agree with #6 - you should maintain your garden according to the target buyer. One thing is universal, though - cleanliness and order. Having the yard clutter-free and clean will help people who do enjoy...

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NathanGreen
NathanGreen 06 Jun 2016

I will always say that London is overrated. Sure it is the capital, but it's too stuffed in there. It's more of a business city to me.

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Paul
Paul 25 May 2016

Estate agents are pathetic when it comes to fees. They have this 'I had to do it at 1% because that's what the others were quoting' mentality. We are the most expensive agents in our area, charging double...

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