Excellent post. I think this would really help the rental market. Many landlords I am sure would be happy to give a secure fixed term lease to a tenant, if the landlord knew they could get out and sell or whatever at the end of 6 years. The most important point, however, is that the tenant has absolute security for 6 years and the landlord may well extend for rolling further 6 year periods. I believe the German situation is like this - 10 year leases, but the landlord can exit at year 10 or continue with a new 10 year lease. Commercial leases here operate on the same principle. Okay, the tenant may have to go at the end of the 6 years, which is not perfect, but they know they have absolute security up until then. The landlord could be required to give a long notice period if the lease won't be renewed, giving the tenant time to plan. Overally, this would be very attractive for tenants and, I think, landlords as well (which is important as rental supply is needed). On the short term lease point, another excellent idea. Many people who are moving abroad for a couple of years or moving for jobs purposes for a short period, moving to mind a relative etc. can't rent in this situation - after 6 months it is really difficult to end the lease. Organising these specific short term tenancies for tenants who only want a short term tenancy anyway (and some tenants do, I'm sure your university has lots of short term visiting lecturers) would again improve supply. Again, great post. Academics are derided for being too 'academic' but you really think things through - pity you are not on the Housing Commission!
Excellent post. I think this would really help the rental market. Many landlords I am sure would be happy to give a secure fixed term lease to a tenant, if the landlord knew they could get out and sell or whatever at the end of 6 years. The most important point, however, is that the tenant has absolute security for 6 years and the landlord may well extend for rolling further 6 year periods. I believe the German situation is like this - 10 year leases, but the landlord can exit at year 10 or continue with a new 10 year lease. Commercial leases here operate on the same principle. Okay, the tenant may have to go at the end of the 6 years, which is not perfect, but they know they have absolute security up until then. The landlord could be required to give a long notice period if the lease won't be renewed, giving the tenant time to plan. Overally, this would be very attractive for tenants and, I think, landlords as well (which is important as rental supply is needed). On the short term lease point, another excellent idea. Many people who are moving abroad for a couple of years or moving for jobs purposes for a short period, moving to mind a relative etc. can't rent in this situation - after 6 months it is really difficult to end the lease. Organising these specific short term tenancies for tenants who only want a short term tenancy anyway (and some tenants do, I'm sure your university has lots of short term visiting lecturers) would again improve supply. Again, great post. Academics are derided for being too 'academic' but you really think things through - pity you are not on the Housing Commission!