Long-term tenancies proving their worth post-Brexit

Unpredictable housing trends since the Brexit vote- have underlined the value of long-term rentals in London.

Forward planning seems to be paying off for those who are part of the increasing number committing to lengthy rental agreements. The security of fixed pricing for tenants and predictable income for landlords presents an effective way to guarantee against any potential uncertainties.

Long term tenancies benefit all types of London tenants, allowing them to lock in rental prices. 

Young professionals in the City, those on graduate training schemes and those in post-graduate education are all beneficiaries. Such tenancies help all younger tenants who plan on being in the capital for the longer term to take advantage of its many employment opportunities – allowing them to switch jobs without changing where they live.

For those considering signing for a longer-term lease, using an ARLA (Association of Residential Letting Agents) registered agent is advised. A recognised ARLA agent will be best placed to deal with any changes and administration when agreeing to, during, or at the end of a lease.

Stephen Ludlow, chairman of ludlowthompson, comments: “The increasing popularity of long-term renting, especially since Brexit, is a real win-win situation for both tenants and landlords.

“Long term contracts provide security and consistency for both the tenant and the landlord. There are positives for both sides of the arrangement, as both are able to plan for the future effectively knowing their rental finances are settled for 18 to 24 months.

“For landlords, longer-term tenancies provide long-term security and guaranteed income, and drive higher net yields for them because there are fewer periods when the property is empty between lettings.”