Initial rental term for new tenant

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    Initial rental term for new tenant

    Hello we currently have a property advertised for rent in England and one prospective tenant wants to take a 2 year fixed term to start with. I would normally say 6 months to start with, so we can each be sure that it’s suitable, make sure he pays the rent, is a good tenant etc. Is it normal for tenants to ask for a longer term at the outset and if so would you accept
    or start with six months first?

    #2
    Tell him 6 months and then periodic, he can stay as long as he likes whilst he & you are happy: And your happiness includes rent paid in-full, on-time, place looked after, no (valid) complaints from neighbours or council.

    If he says no, must have 2 years say - shame, good luck with wherever you find somewhere.....
    I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

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      #3
      Thank you that’s what I’m starting to think even if two years seems attractive for stability. It’s an unknown quantity at present.

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        #4
        Maximum of a year for a new tenant with good references, 6 months is better if they'll agree. Once you have some experience of them as a tenant you could offer more but not when they are new.

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          #5
          Originally posted by theartfullodger View Post
          Tell him 6 months and then periodic, he can stay as long as he likes whilst he & you are happy: And your happiness includes rent paid in-full, on-time, place looked after, no (valid) complaints from neighbours or council.

          If he says no, must have 2 years say - shame, good luck with wherever you find somewhere.....
          Exactly. Alarm bells for any tenant demanding otherwise.

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            #6
            A lot of tenants ask for a longer tenancy - I'm sure some are dodgy, but a lot just want some security.
            I only ever let for 6 months, and explain why and don't budge.

            In my case, the tenants normally accept that the properties I let are my business, so I want then living there as much as they want to live there. I'm not likely to sell or want to move in.
            When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
            Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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              #7
              Thank you all, really appreciate your responses. It does strike me as odd but I get that they might just want security. We’ve got another interested tenant which will definitely be six months only so will weigh it up.

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                #8
                They may just want to avoid being hit with a further set of fees to renew. Having said that I would insist on an initial 6 months tenancy.

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                  #9
                  OP just be aware that you have a lot of very cautious landlords here. If I intended to be in an area for a while, I'd want security. I think most everyday folk would.

                  So I'd recommend checking out the tenants carefully, and if they feel ok, go with it.

                  Not everyone is out to get you.

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                    #10
                    Originally posted by davett View Post
                    OP just be aware that you have a lot of very cautious landlords here.
                    It is better to be cautious and find you have a good tenant than to be cavalier and find you have a bad tenant and a £20K loss with no hope of recovery.

                    Personally I would talk to them, explain that I am in it for the long run, and I want them to stay for a long time, and hope that I could persuade them that I am a good guy. But also explain the problems that bad tenants can cause and hence my desire not to be tied in to a long tenancy.

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                      #11
                      I would say stick to the 6 months as and say its then a rolling contract - the govt is changing the rules for new tenancies I read somewhere tho- better for you as if they lose their job your stuck with them

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                        #12
                        But you have to decide what risks you are prepared to take.

                        How often are you going to get hit by your 20k loss tenant? What if you give up the dream tenant who just wants security and will be in there for years, paying every month, never costing you and instead get a load of 6 month tenants you have to kick out.

                        As the traders say, the bear argument is always the most convincing, but in general the market is a bull market.

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                          #13
                          Originally posted by davett View Post
                          How often are you going to get hit by your 20k loss tenant? What if you give up the dream tenant who just wants security and will be in there for years, paying every month, never costing you and instead get a load of 6 month tenants you have to kick out.
                          £20K = 10 years profit.

                          You can't have it both ways; either bad tenants are very rare (implied by your first sentence) so one would not get a load of tenants that have to be kicked out, or they are not rare, so one is right to be cautious.

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                            #14
                            Originally posted by davett View Post
                            What if you give up the dream tenant who just wants security and will be in there for years, paying every month, never costing you.
                            They will accept reasonable terms whether you are a mug or not.
                            A bad tenant however... Good riddance.

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                              #15
                              6 months Fixed Term only, No renewal fees are payable when AST continues as a SPT

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