Lucy Morton, senior partner and head of lettings at W.A.Ellis, comments:
“We have long campaigned for greater regulation and transparency in the lettings industry, so Eric Pickles tenants’ charter is a positive step.
Interestingly, though, our average tenancy has increased to beyond three years and often, it is the landlord who will commit to a longer term and it is the tenant who wants the flexibility of a break clause after six months.
“In order to promote and maintain investment in central London, rents need to keep up with market conditions, so rents generally increase on an annual basis in line with either the market or inflation.
Therefore, it’s important that the model does include rent review clauses, to provide both landlord and tenant with greater financial certainty, as highlighted in the government’s statement today.”
W.A.Ellis is currently marketing a range of properties on the sales and lettings market; for further information, please call: 020 7306 1600 or visit www.waellis.com
Established in 1868, W.A. Ellis is an independent estate agency with expertise in property sales, lettings, valuation, development and investment in Prime Central London. Its sales and lettings team are readily available for comment on the property market.
Eric Pickles’ “Tenants’ Charter”