Landlords have many things to consider when letting property, but if you keep tenants happy, you are well on your way to success. At Thomas Morris, we appreciate this is one of the most important things a landlord can do, and we aim to offer landlords support and guidance in this area.
Recent research suggests tenants are happy in the rental market right now, and we are here to assist you as best we can.
There is consistency in rental market
Data taken from the English Housing Survey for 2019/20 suggests 83% of private tenants were satisfied with their current rental accommodation. To be fair, this has been the case for the past 10 years, and it seems as though private tenants have a good relationship with their landlord.
There has been a drop in the percentage of social tenants who are happy with their rental accommodation. In 2018/19, 81% said they were happy with their rental accommodation but the new figure suggests only 78% are happy with their accommodation.
Repair and maintenance work is vital
75% of private tenants said they were happy with the way landlords undertake repair and maintenance work at their rental accommodation. This is the highest figure for this issue for around ten years. Repair and maintenance work is vital when it comes to caring for a rental property, and making a tenant feel as though they belong. Therefore, it is great news to see that so many tenants were happy with this figure.
66% of social tenants said they were happy with the way landlords carried out their repair and maintenance work. This is a reduction of one percent based on the previous findings. This means two thirds of tenants are happy with repair work, which isn’t bad, but it does indicate there is a gap between the standard of service given to social tenants and private tenants.
Another issue which some people might find of interest is that tenants generally enjoyed the rental experience more when renting property directly from a landlord than from a letting agent. 85% of respondents said they were satisfied when the services were provided by a landlord while only 79% of respondents said they were satisfied when services were provided by a letting agent.
National Residential Landlords Association chief executive Ben Beadle says: “The NRLA is mindful of the challenges the private rented sector is confronted with and remains firmly committed to tackling them in a spirit of co-operation between tenants, landlords and government. However, these figures demonstrate that the vast majority of private renters are satisfied with their accommodation and the service being provided by their landlord. This positive feedback is representative of tenants’ experiences across the private rented sector, and it is through this lens that future changes need to be seen.”
If you are looking for help with any matter of the property or lettings market, it is best to speak to property professionals. You can book a sales or rental valuation appointment directly on line at a time and date of your choice by clicking here or alternatively click here for individual branch contact details.