Have you ever wondered what tenants say about landlords? CIA Insurance have put together this infographic based on a study they conducted in order to find out how tenants feel about rental properties and the risks that they face. Take some tips from the results of the survey to ensure that you are targeting the right market and making sure that your tenants are happy.
All people who took part in this survey rented property and gave their results anonymously.
The least common properties rented by those surveyed were bungalows, cottages, and studio apartments, so if you are looking to get into the renting market, these may be properties that should be avoided. If you are, however, looking to rent out one of these properties, it may be worth spending the extra money on advertising to help publicise your offer.
All types of houses (detached, semi-detached, and terraced) were the most common types of property to rent with almost an equal percentage of renters between all three of them. As expected, one and two bed flats closely followed, with one bed flats being more popular.
With over 32% of tenants not reading or not understand their contract before they signed it, it has been highlighted that contracts need to be explained fully in order to avoid any complications half way through the tenancy. This will benefit you as well as your tenants as you can ensure that those you are letting to are fully aware of what they can expect from the property.
Two thirds of those surveyed admitted to rarely or never contacting their landlord for major issues with their property. In order to avoid encouraging this, it is important to create rapport with your tenants, letting them know that you are approachable and willing to help if there are ever any issues. A phone call to your tenants every six months or so will not go unnoticed and will ensure that you are regularly updated with anything that may be going wrong in your property.
With one fifth of tenants stating that their landlord is difficult to get hold of, it is no wonder that such a high percentage of people dont contact their landlord when issues arise. If you are thinking of investing in the property market, or are currently involved in the industry, making an effort to call your tenants back if someone has tried to contact you will make a massive difference to your relationship.
Interestingly enough, not interfering was a quality that was almost as desirable in a landlord than being quick to organise repairs, showing how tenants like to be independent and left to their own devices. These results prove just how difficult it is to get the balance between being an approachable, available tenant and being too invasive. Finding this balance is difficult but by following these few tips you will be well on your way:
- Make a call to your tenants once every six months if you have not heard from them within this time frame
- Other than a call every six months, do not hassle your tenants unless they have called you first
- If you have any missed calls or messages, call back your tenants on the same day if possible
- Make sure you tell your tenants that you are available to fix any problems they may have, big or small, by giving your contact number and an alternative way of getting hold of you (email, messenger etc.)