Birmingham landlords may be interested in a new study that has looked into tenants preferences. The survey shows that 8 out of 10 tenants that are renting accommodation want a tenancy agreement of one year or less. The information was collected following a large survey by the Deposit Protection Service (DPS).
What do tenants prefer?
Nationally 39,855 tenants responded to the survey, which found that 80.1% of tenants prefer to have an agreement of no more than twelve months. 89.8% said that they preferred agreements which lasted up to two years, and 34.6% of those surveyed wanted contracts of six months or less.
“Many tenants prefer the flexibility that shorter tenancy agreements hold, rather than be tied to a long commitment,” said Julian Forster, managing director at DMS. “Tenancy agreements are vital ingredients in establishing happy tenancies for both the landlord and tenants.”
69.9% said that they prefer a rolling contract of one or two months’ notice rather than a new fixed-term contract, which was favoured by 28%.
With more tenants opting for a lower time frame tenancy, more problems may occur when they come to check out. The tenant is less likely to take good care of a property if they’re not going to be there for a long length of time, this makes it important for landlords to properly assess the condition of the property and decide what needs to be put right before the next tenant moves in.
All of the findings demonstrate how important it is for landlords to manage their inventories.
Inventory management services
Skribes, Birmingham’s leading independent inventory and property services specialists, provide landlords with; inventory reports, check-in reports, interim reports, check-out reports and legionella, all of which aim to minimise issues that arise when a tenant’s contract has ended.
To find out how we can help you to make it easier to manage your property, call us today on 07891551905 or email info@skribes.co.uk.