According to reports, the new Housing Minister Gavin Barwell supports the concept of longer tenancies for renters in the private sector and is investigating ways of making it easier for private tenants to obtain longer tenancy agreements. This makes eminent social sense as it facilitates more permanent communities to be established with the consequent benefits to society.
We welcome and support this move.
With the sharp decline in rates of homeownership in the UK in the past decade, and the numbers of renters continuing to rise because of the housing shortage and high prices, longer tenancies would give people greater security in their homes, which many crave.
The security of a long tenure is particularly important for families and older people.
One of Barwell’s predecessors had announced in October 2013 that the government was to introduce new measures to encourage longer, fixed term, ‘family-friendly’ tenancies in the rental sector – although there were a number of flaws with these measures, it puts the Private Rented Sector (PRS) on the political agenda and is certainly is a good place for Barwell to start. Let’s hope he picks up and develops these measures in consultation with industry bodies in the PRS.
In our experience of the over 55s rental market, we know that many people want to sell their family home to downsize and rent as a lifestyle choice, provided they can find a suitable property with the security of a long tenure.
Our assured tenancies enable tenants to remain in their property for as long as they wish. Our tenants tell us that this is the biggest attraction of renting in retirement, as they have security of tenure for life. Let’s hope others in the rented sector will also benefit from longer tenancies soon.