The government is giving consideration to the introduction of tax incentives for landlords who offer longer tenancies as part of a new consultation.
The Ministry of Housing, Communities and Local Government has launched a consultation on implementing a three-year tenancy model. This is seen as a way of supporting the increasing number of private tenants seeking long-term security, as more families and older people plan to stay in privately rented property.
The report put forward a number of options, including introducing a financial incentive for landlords in the form of tax relief or cash payments. The Residential Landlords Association (RLA) says this would encourage 63% of landlords to offer a longer tenancy.
However, the RLA warned against making three-year tenancies a statutory requirement, arguing that many tenants require the flexibility of shorter-term arrangements.
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