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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Spencer Fortag
Spencer Fortag 25 Aug 2016

The funny thing is, I mentioned the brick issue in my blog back in April: http://medwayproperty.blogspot.co.uk/2016/04/the-medway-property-market-and-lack-of.html

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SecomTech
SecomTech 19 Aug 2016

Firstly, I either lodge with DPS or do not take a deposit...secondly, If a tenant has not received a confirmation their deposit is secured with either a scheme or in an insured account with an agent/landlord,...

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jasonevans
jasonevans 19 Aug 2016

Belvoir has over 15 years of experience in property lettings, buying and renting and is one of the best agencies I know about. I have heard that they revived an award for the hard work. Really amazing...

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jasonevans
jasonevans 19 Aug 2016

Usually these areas are least affected when it comes to unexpected economical collapse.

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TheWaspNestRemover
TheWaspNestRemover 11 Aug 2016

You agree to pay for the treatment needed to get rid of fleas, ants, mice, wasps nests and other pests unless you can prove that these are a result of us not meeting our repairing responsibilities or these...

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madisonwelch80
madisonwelch80 02 Aug 2016

16% is quite a raise. Let's hope this tendency won't continue for long.

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madisonwelch80
madisonwelch80 02 Aug 2016

?66,963 is a serious price drop However buying a property it a serious investment only small percentage of the UK population could afford.

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madisonwelch80
madisonwelch80 02 Aug 2016

Wow, it kind of surprised me. I mean counting on mom and dad's bank even after retirement is too much. That's the moment in life when one should have ensured themselves. I am shocked.

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AbbieP.
AbbieP. 22 Jul 2016

"While house prices in the most expensive eleven boroughs have declined values in the cheapest eleven boroughs continue to rise" - not a nice way to even out the price range. London is overrated as it

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AbbieP.
AbbieP. 21 Jul 2016

And try to profit from your decisions, I may add

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CommercialTrust
CommercialTrust 19 Jul 2016

Retirement investment has always been one of the biggest draws of buy to let. And the buy-to-let demographic is, on balance, older. (Over a third of our applicants are over 50 at the time of application.) It...

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Forrest Wheatey
Forrest Wheatey 11 Jul 2016

I find the time perfect for ever home-owner wannabe. Prices should slowly, but steadily drop, at least for the inner buyer. Making it harder for outsiders to buy properties (the whole Brexit thing means...

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