Tenancy agreements linked to landlord situation

Terms and conditions outlined in tenancy agreements are largely affected by the landlord's personal circumstances, an expert has suggested.

For example, the amount of rent they charge is reflective of their financial position, suggested policy manager at the National Landlords Association Chris Norris.

He continued: "The majority of rental property will have some form of mortgage attached to it, and landlords must ensure that they are able to cover their overheads before considering accepting a lower rent."

Mr Norris indicated that reduced rents are only likely to be accepted if a landlord believes it is economically viable for them to do so, rather than for the sake of keeping a tenant on board.

HSBC recently found that 80 per cent of adults who do not currently own a property hope to do so at some point in their lives.

However, less than a quarter believe this will happen in the next five years.


Published on: April 5, 2011

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