16 Dec

Long-term contracts for buy to let properties 'increasing in popularity'

Long-term contracts for buy to let properties 'increasing in popularity'

The trend of tenants wanting to stay in buy to let properties for longer is very popular at the moment, a report has shown.

Research conducted by Girlings Retirement Rentals has revealed that the greatest attraction that motivates people to rent after they reach pensionable age is having a lifelong tenancy agreement.

The security of signing a long-term rental contract has grown in popularity and a third of people now say that this was the top consideration in deciding whether they wanted to rent a buy to let home after they began to receive their pension.

This comes before factors such as location, price and size of the property.

Findings also revealed that 80 per cent of tenants who decided to rent buy to let homes when they stopped working said they would recommend this to friends, while 46 per cent said it has helped them save money.

Earlier this month, the Royal Institution of Chartered Surveyors reported that there was a rise in demand for rental accommodation in the three months leading to the end of October 2010.ADNFCR-1222-ID-800295785-ADNFCR

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