The idea that landlords and tenants can’t get on is a fallacy, as many of these relationships are very positive and are often long lasting
New research by landlord insurer Direct Line for Business debunks the myth that landlords and tenants don’t see eye to eye.
Over two thirds of landlords surveyed said they have a good relationship with their tenants, while 33% believe they are good friends. Only two per cent said they have a poor relationship with their renters, while 15% have no interaction at all, as all communication is handled by a management or lettings agent.
This positivity is reflected in landlords’ view of the buoyancy of the UK rental market. 76% of landlords’ state they feel confident they could fill their property without losing any rental yield should their existing tenants move out in the next six months. 27% of landlords are very confident there would be no void period if their current tenants moved out, meaning they wouldn’t lose any rental income.
Christina Dimitrov, Business Manager at Direct Line for Business, said: “The idea that landlords and tenants can’t get on is a fallacy, as many of these relationships are very positive and are often long lasting. Having a good relationship with your tenants is beneficial as they will be more likely to flag problems with the property quickly, enabling the landlord to arrange for a swift repair and therefore minimising inconvenience and expense for both parties.”
When it comes to the top three traits landlords are looking for in a good tenant paying the rent promptly (58%) is most important; followed by being respectful of the property and its contents (41%) and being clean and tidy (37%). Signing long-term tenancy agreements (11%) and renewing contracts (8%) rank as far less important than the behaviour of a tenant during the rental period.
In comparison, research by Direct Line for Business reveals the characteristics tenants appreciate most in their landlord. The top qualities were the ability to respond to issues quickly soon after they arise (69%), asking for a reasonable rent, never unexpectedly or unfairly raising the rent (52%) and drawing up a fair tenancy agreement (37%).