Private landlords are welcoming proposals being considered by the government to provide financial incentives for those offering longer tenancies.
In its consultation launched yesterday, the government is proposing a number of options to implement a three year tenancy model addressing the demand for longer tenancies from the growing numbers of families and older people in the private rented market.
One of these options proposes ‘financial incentives’ as called for by the Residential Landlords Association (RLA), which the government argues “could be quicker to implement” then mandatory three year agreements.
David Smith, policy director for the RLA, said: “With landlords having faced a barrage of tax increases we believe that smart taxation, such as that being proposed today, would provide the longer term homes to rent many families and older people want.
“We would warn against making it a statutory requirement to introduce three year tenancies. Many tenants simply do not want to be tied to a property long term. It is vital that the market is able to provide the flexibility that many need in order to swiftly access new work and educational opportunities.”
To view the government’s ‘open consultation’ on ‘overcoming the barriers to longer tenancies in the private rented sector’ click here.