Jump to content
House Price Crash Forum
Sign in to follow this  
bomberbrown

5 Year Tenancies Available From Genesis Homes

Recommended Posts

http://www.genesisha...rg.uk/for-rent/

Well this surprised me this morning when I opened the Metro. Tenancies for up to 5 years. All mod cons appliances.

I've not read all the blurb/conditions yet, but is the tide slowly turning for renters or are they a bunch of new builds they can't sell, so have put them up for rent instead??

When you rent from us, you can rent for longer if you want to. On most of our properties we offer rental tenancies for 1, 2, 3, 4 or even 5 years, giving you peace of mind and security. See our Renters' Guide for more information.

Edited by bomberbrown

Share this post


Link to post
Share on other sites

http://www.genesisha...rg.uk/for-rent/

Well this surprised me this morning when I opened the Metro. Tenancies for up to 5 years. All mod cons appliances.

I've not read all the blurb/conditions yet, but is the tide slowly turning for renters or are they a bunch of new builds they can't sell, so have put them up for rent instead??

On the face of it, a most welcome development. But perhaps the devil is in the detail. The charges etc seem fairly low- a check out fee applies of between £80-£115, and a £40 referencing fee.

The more pros get into the letting game on this sort of basis and clear out spivs and amateurs, the better.

Share this post


Link to post
Share on other sites

I know someone in a 5 bed house bought from developers by a HA.

They're in a 5 year contract .. at the end of 5 years they either buy the house at the price agreed at the start of the contract or move out.

They were given the spiel it was for professionals. Which is why their nightmare neighbours are on 25 year rental tenancies (According to nasty neighbour anyway)

Share this post


Link to post
Share on other sites

I honestly thought this was a significant development worthy of a few more responses. Oh well.

Mods, possible to sling it over to the Renting section? Cheers.

Share this post


Link to post
Share on other sites

I honestly thought this was a significant development worthy of a few more responses. Oh well.

Mods, possible to sling it over to the Renting section? Cheers.

It is, surprised there hasn;t been more response. The sooner we move away from a model dependent on BTL numpties who are often so skint/miserly they cannot afford or are not willing to spend on basic maintenance, the better.

Share this post


Link to post
Share on other sites
1368015245[/url]' post='909318615']

It is, surprised there hasn;t been more response. The sooner we move away from a model dependent on BTL numpties who are often so skint/miserly they cannot afford or are not willing to spend on basic maintenance, the better.

Some things that immediately stood out for me.

1. The general openness of the contract. I.e. you can put pictures up decorate etc, just return it in the same condition

2. You can rent furnished or unfurnished and that includes white goods that they will maintain and/or fix when broken

3. One beauty of renting from a single landlord in a new build development like this is that if the building has any problem/nuisance tenant, you have a single point of recourse to have it dealt with (landlord will evict problem tenant save losing 10 good tenants). This is a significant problem in new builds owned by a plethora of BTL landlords.

4. Naturally, the potential 5 year tenancy

5. The rent costs don't appear massively excessive for the area either.

Share this post


Link to post
Share on other sites

Some things that immediately stood out for me.

1. The general openness of the contract. I.e. you can put pictures up decorate etc, just return it in the same condition

2. You can rent furnished or unfurnished and that includes white goods that they will maintain and/or fix when broken

3. One beauty of renting from a single landlord in a new build development like this is that if the building has any problem/nuisance tenant, you have a single point of recourse to have it dealt with (landlord will evict problem tenant save losing 10 good tenants). This is a significant problem in new builds owned by a plethora of BTL landlords.

4. Naturally, the potential 5 year tenancy

5. The rent costs don't appear massively excessive for the area either.

Yes, and I bet they probably wouldn't be minded to sling you out at the end of the tenancy to chase £20/month more or whatever. I really hope this sort of arrangement is to be found elsewhere in increasing numbers.

Share this post


Link to post
Share on other sites

Since the 28th of February 1989, an Assured Shorthold Tenancy can last for any duration, short or long. Before then, there was a requirement for a tenancy to be for a minimum of six months. However, while the tenancy can be as short as required, the tenant has a legal right to stay in the property for a minimum period of six months, regardless of whether the tenancy duration is for a shorter period.

Share this post


Link to post
Share on other sites

Sounds good, the ideal for a rental would be that you can extend indefinitely until you want to leave. Approaching lease renewal date is always stressful and I can't imagine what it's like if you have kids.

Share this post


Link to post
Share on other sites

Good news. :) Certainly need these companies to play the spiv amateur landlords at their own game.:P If only they had some digs to let in my city.

On a slight tangent, I picked up a copy of the i! newspaper today and read an article about how children in private rented property are given a raw deal. Whenever the landlord decides to up the rent to an unaffordable level to their parents or ends the tenancy it negatively affects stability and interrupts their education with potentially grave consequences. :( Longer term tenancies for 5 years in the private sector are certainly overdue.

Share this post


Link to post
Share on other sites

Since the 28th of February 1989, an Assured Shorthold Tenancy can last for any duration, short or long. Before then, there was a requirement for a tenancy to be for a minimum of six months. However, while the tenancy can be as short as required, the tenant has a legal right to stay in the property for a minimum period of six months, regardless of whether the tenancy duration is for a shorter period.

Have you ever tried negotiating a tenancy agreement with a PRIVATE landlord for any period greater than 6 months?

THAT is the significance of this. A landlord willing to negotiate 5 year tenancy agreements.

Share this post


Link to post
Share on other sites

Have you ever tried negotiating a tenancy agreement with a PRIVATE landlord for any period greater than 6 months?

THAT is the significance of this. A landlord willing to negotiate 5 year tenancy agreements.

the last tenants I had stayed 4 years, the ones before that 3 years. In both cases I gave them the option of more than 6 month agreements. The last but one tenants finally asked for a 1 year agreement then wanted to move out after 3 months into the tenancy.

5 years would suit me fine but most tenants are renting because they want to be flexible even if they can give a months notice after 6 months.

Oh and getting properties back in anything like the state they were let would be really nice.

Share this post


Link to post
Share on other sites

Have you ever tried negotiating a tenancy agreement with a PRIVATE landlord for any period greater than 6 months?

THAT is the significance of this. A landlord willing to negotiate 5 year tenancy agreements.

Its rare indeed, but there was one here in Colchester who would do any length we wanted...I checked the area and it was an area famous for chest infextions and damp...its near the river that runs through town, and early houses werent built that well to take the damp ground into account.

It seems that EAs are the ones that prefer the 12 month AST, cos they charge LL and tenant fees for renewals.

My LL is wise to this and we just started our 5th year on our 12 month AST.

In reality, a LL shouldnt be afraid of long contracts....non payment is no worse an issue than an overstayer....Im 100% convinced most amatuers are told by the EA that 12 months is the max.

Share this post


Link to post
Share on other sites

Its rare indeed, but there was one here in Colchester who would do any length we wanted...I checked the area and it was an area famous for chest infextions and damp...its near the river that runs through town, and early houses werent built that well to take the damp ground into account.

It seems that EAs are the ones that prefer the 12 month AST, cos they charge LL and tenant fees for renewals.

My LL is wise to this and we just started our 5th year on our 12 month AST.

In reality, a LL shouldnt be afraid of long contracts....non payment is no worse an issue than an overstayer....Im 100% convinced most amatuers are told by the EA that 12 months is the max.

Indeed, my tenancy is for more than a year. The agents were quick to rubbish the possibility of a >6 month tenancy, but I told them I was not moving into any decent-sized house without the security of more than a 12 month contract. The LL was happy to accept the proposal despite the agent's misgivings. Common sense prevailed, thankfully.

Share this post


Link to post
Share on other sites

I am all for long term tenancies where the tenant is able to use the property as their own.

I understand that in Holland there are lots of properties owned by pension funds and let on secure tenancies. Pension fund gets reliable return, tenant gets security and sensible rent. It should be a model for social housing over here.

I am currently renting, but if I owned where I live and decided to move to s similar place, the costs (stamp, agents and legal) would be £30k. That pays a lot of rent.

Share this post


Link to post
Share on other sites

I honestly thought this was a significant development worthy of a few more responses. Oh well.

Mods, possible to sling it over to the Renting section? Cheers.

Maybe because the vast majority of renters would rather buy. Having a decent landlord/tenancy agreement may be the next best thing, but it's a distant second.

Share this post


Link to post
Share on other sites

Maybe because the vast majority of renters would rather buy. Having a decent landlord/tenancy agreement may be the next best thing, but it's a distant second.

I am not so sure. We bought a house principally because we wanted security of tenure and couldn't get that with 12 month ASTs. I think decent tenure is a cl

Share this post


Link to post
Share on other sites

Maybe because the vast majority of renters would rather buy. Having a decent landlord/tenancy agreement may be the next best thing, but it's a distant second.

I am not so sure. We bought a house principally because we wanted security of tenure and couldn't get that with 12 month ASTs. I think decent tenure is a close second with AST a distant third.

Share this post


Link to post
Share on other sites

I honestly thought this was a significant development worthy of a few more responses. Oh well.

Mods, possible to sling it over to the Renting section? Cheers.

Isn't it a housing association though, rather than a private landlord? In which case I'd have thought long term tenancies weren't unusual?

Share this post


Link to post
Share on other sites
1368097788[/url]' post='909319167']

Isn't it a housing association though, rather than a private landlord? In which case I'd have thought long term tenancies weren't unusual?

In name only it would appear, since these flats are aimed at private tenants and not people and families that are currently on councils social housing waiting lists. Besides which, HA's and councils generally dole out AT agreements as opposed to AST agreements.

Share this post


Link to post
Share on other sites

Indeed, my tenancy is for more than a year. The agents were quick to rubbish the possibility of a >6 month tenancy, but I told them I was not moving into any decent-sized house without the security of more than a 12 month contract. The LL was happy to accept the proposal despite the agent's misgivings. Common sense prevailed, thankfully.

I believe it is fairly standard for BTL mortgages not to permit >12 month contracts.

http://www.lettingfocus.com/blogs/index.php/category/buy-to-let-mortgage-terms-and-conditions/

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 260 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.