Tenancies in the private rented sector are becoming increasingly long-term, Mark Hayward, chairman of the National Federation of Property Professionals (NFOPP), has claimed.
According to the industry expert, there are a number of factors that are leading to a rise in long-term tenancies.
"I think there is a pressure for longer tenancies to become the norm," he said.
"Firstly in terms of security of tenure and secondly because renting is very much an acceptable way of living now - we are in what is termed 'generation rent'."
With more and more people turning to the private rented sector as home ownership becomes increasingly unaffordable for many, living in rented accommodation is now seen as a long-term living solution, rather than just a stop gap until buying a property.
But this trend also holds advantages for landlords, who can benefit from reduced void periods and a guaranteed regular income.
"I think that if the private rented sector is ever going to attract significant corporate investment, then those investors are going to have to see longer-term tenancies in place to protect their returns and their investment because at the moment, you could have a void period every six months," said Mr Hayward.
"Also you have got the security of income servicing that investment."
And while it would still be necessary to take out products such as landlord contents insurance, longer tenancies could also mean less damage to properties.
"If the tenant has got a secured tenancy for a period of time - we are talking years - then they are far more likely to take care of that property and invest in it because they are going to reap the benefits from that investment," said the NFOPP chairman.
His comments follow a recent study by the Council of Mortgage Lenders, which found that more than half (54 per cent) of those aged under 35 who currently rent privately would like to become homeowners in the near future.
However, only a third (33 per cent) of those who hope to be homeowners within two years time actually expect this to happen.
Posted by Brandon Parker