Will three-year tenancies soon become standard?

A second built-to-rent developer in London is now offering tenants three-year tenancies as standard, this time at a development in West London. Be Living, which also trades as Be:here, is the build-to-rent arm of developer Wilmott Dixon and says a “new era is dawning for renters”. The company also operates as a letting agent under its Be:here brand and advertises properties at its build-to-rent developments on Rightmove and Zoopla. It also says that, following extensive consultation with tenants about how they wanted to live their lives and what they wanted, it decided to introduce the new, longer tenancies. Three-year tenancies A survey of its tenants also revealed that 80% said they wanted to stay at the development “for as long as possible”, while separate research by Knight Frank discovered that 68% of tenants in the UK expect to be renting in three years’ time and beyond. The Gatefold development is in Hayes and includes 119 apartments within a former EMI Records vinyl records factory. As well as longer tenancies, some homes within the site are pet friendly and rent increases are fixed in line with inflation. “While renting is a deliberate choice for a growing number of people because of…

Read More »