Majority of tenants want short term leases

A new report reveals that almost 80% of tenants want a lease that is between six months and two years, with just one in five tenants wanting longer leases, between 2-5 years.

Related topics:  Landlords
Warren Lewis
25th February 2016
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The research also shows that over half of tenants are hoping to move up the rental ladder and rent a nicer property when they can afford to.  

The study, conducted by PropertyLetByUs.com – a leading online letting agent, reveals that the majority of tenants want their rental property to feel like home, even on short term leases.  Over 60% of tenants would like to redecorate their property and over half of tenants want to change the carpets and floorcoverings.  

A further 23% of tenants want to install decking, while 18% want to add a hot water tub and 13% want to create a patio.  

Jane Morris, Managing Director of PropertyLetByUs.com comments: “Clearly tenants don’t want long leases. For many, longer than two years does not give them the freedom and flexibility they need.  They may find a job, then move on to another one, start out living with friend and then want to move in with a partner. However, landlords like longer leases – they get charged fees each time their agent needs to find new tenants. Landlords can save money by using an online lettings agent instead of a high street lettings agent savings can be huge

Our research also shows that many tenants do aspire to owning their own home and a large proportion of them want to redecorate their rental accommodation.  This can cause a major headache for landlords, with many facing redecorated properties at the end of the lease, with no prior approval secured by the tenant.  The latest Tenant Deposit Scheme report shows that redecoration is a major cause of dispute, taking 32% of the share.

We have seen properties with walls painted in bright colours, despite landlords specifying that the décor must be a neutral and standard lettings property colours, from off-whites and beige to magnolia. One tenant decided to decorate the whole house black and white; removed all the carpets/lino downstairs and upstairs; and painted all the floors/ceilings/kitchen/bathroom tiles in a beautiful shade of black! She did keep the walls white.   Another tenant chose a dark burgundy for all the walls, throughout the property.

Even when a tenant repaints in the correct or authorised colour scheme, there are still problems. We have seen instances of bad paint application, patchy walls, paint spills on carpets, curtains, fixtures and fittings, all of which the tenants will be responsible for at the end of the tenancy.

It is vital that landlords carry our mid-term property inspections and ensure the inventory and check-in stipulates the colour and quality of the decoration.  If tenants do want to decorate, they should be given colour swatches to choose from and clear instructions on what can be painted and how.”

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