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10 year leases being looked at, works in the EU

Discussion in 'Property Management' started by headsonbeds, 23rd Dec, 2015.

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  1. headsonbeds

    headsonbeds Well-Known Member

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  2. Scott No Mates

    Scott No Mates Well-Known Member

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    That'll make yields a bit more interesting - more complex but reduces long-term risk, comparable term to commercial leases.
     
  3. rhinsor

    rhinsor Well-Known Member

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    I remember this being discussed on somersoft a few years ago.
    I couldn't do a two year fixed lease as I like moving around. 4 times in 4 years so far.
     
  4. D.T.

    D.T. Adelaide Property Manager Business Member

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    Sounds like a good idea because it appeals to people who are concerned with tenant welfare.

    However its unrealistic because people simply don't want to live in one place that long.
     
  5. Zepth

    Zepth Member

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    It isn't unrealistic even if it doesn't appeal to everyone. As the housing market becomes harder to enter for younger generations the number of people becoming long term renters will also increase

    I see it working if options are used similar to commercial lease so say every 2-3 years the decision is made to continue on
     
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  6. thatbum

    thatbum Well-Known Member

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    Yeah agreed. It probably won't be for most people, but certainly I imagine there'll be some landlords and tenants who are keen for an arrangement like this.

    I imagine one of the key features will be that tenants can break lease without much penalty though...
     
  7. Chilliblue

    Chilliblue Well-Known Member

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    I would disagree as I know several people who have raised their families 10+ years in the same rental property and have no intention of moving.

    We have community housing tenants in their 3rd 3 year lease term and recently purchased an 17 year tenancy.

    However tenancy least would need to change being more favourable to the landlord before I would offer them.
     
  8. WattleIdo

    WattleIdo renovating Premium Member

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    I have a tenant who has told me that he intends to stay for at least 10 years. Not sure whether I can tolerate him that long though. Sounds like a high quality problem i.e. he started building a deck without asking. I think as a way of getting to stay - why would I kick him out while he's building a deck?
     
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  9. Random Username

    Random Username Well-Known Member

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    Maybe because if it wasn't legal you would be liable?
     
  10. WattleIdo

    WattleIdo renovating Premium Member

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    My point exactly - a nightmare. No-one likes to be manipulated.
     
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