Tag Archives: Tenant

Landlord confidence tumbles in the UK

Up to 500,000 buy to let properties could be sold as investors’ confidence tumbles and they leave the market this year. That’s the prediction from the National Landlords’ Association (NLA) who say that confidence among the UK’s landlords is at its lowest since the banking crisis. The NLA points out that the number of landlords wanting to sell-up has doubled since July last year. That’s when the Chancellor George Osborne announced his double whammy of tax hikes – removing mortgage interest tax relief for landlords and adding a 3% stamp duty surcharge on buy to let purchases. The Chancellor said his policies were aimed at ‘creating a level playing field’ but landlords with 15 properties and more are set to avoid the penalties. Landlords say they are not creating the problem   Now smaller landlords say they are not creating the problem that the government’s policies have been designed to tackle. The NLA is predicting that after 500,000 properties leave the buy to let sector, there will be another 100,000 properties sold every year afterwards. This prediction has been underlined by research from a national newspaper which found that 20% of buy to let investors are looking to sell their […]

Most tenants say they are happy with their landlord

When asked if they are happy with their landlord, 80% of tenants told researchers that they were. In the survey undertaken by Paragon Mortgages, the tenants also revealed their fears that their landlord may end their tenancy for nearly half of them much sooner than their agreement runs for. Three quarters of tenants said they were renting a property because they could not afford to buy a house and 40% said they have no plans whatsoever to buy property and were resigned to living in private rental accommodation. The managing director of Paragon, John Heron, said: “The survey reveals that for many people, living in private rented accommodation is increasingly attractive for the long term. “This reflects the issue of affordability in housing however best practice and competition are pushing up standards for tenants.” He added that their survey has also revealed how important the UK’s private rented sector is to the housing market but it still needs to mature before catching up with its European counterparts. Tenants satisfied with affordability and standards   Mr Heron said: “There is room for growth in the sector with tenants satisfied with affordability and standards.” The survey revealed that the average length of […]

Are landlords in the UK ethical?

With so much publicity in recent months about the activities of rogue landlords around the UK, Saga Home Insurance decided to find out whether the UK’s landlords are ethical. Their findings will not come as a surprise to the majority of landlords with rental properties since most tenants (77%) said their landlord was either ‘excellent’ or ‘good’. Just 8% of tenants said their landlord was ‘poor’. The survey shows that landlords are not only ethical but reliable as well and their survey also looked into the cause of most complaints. Landlords complain about tenants for the late payment of rent, 37%, another 32% complained of property damage and 20% said they were unhappy about tenants who left without giving notice. Landlords ‘hard to reach’   When asked, tenants said that most common complaint was that landlords were hard to reach, 23%, and the use of substandard tradesman for carrying out repairs was a cause of complaint for 21% of tenants. However, Saga also reveals a worrying statistic in that one in 10 landlords apparently does not pay a tenant’s deposit into a protected scheme. The survey results have now led to the publication of a leaflet aimed at existing and […]

Tenants take just 60 seconds to choose a rental property

A tenant will take just 60 seconds to decide whether a rental property is for them, according to research. More impressively, 7% of surveyed tenants said they made the decision to move into their rental home after just 10 seconds. The findings from Rentify show that around 63% of people viewing a rental property will make their decision to move in while 2% need more than five minutes to make a decision. The most attractive feature for a potential rental property is the kitchen for 30% of tenants, followed by a large main bedroom with 28% of tenants saying this would help sway their decision. However, one in five potential tenants say a large living room is what they look for when renting a property. Finding the right rental property   The chief executive of Rentify, George Spencer, said: “Finding the right rental property for many is important but it’s also important that tenants do not rush into making a decision. “Lettings agents can sometimes disguise a flaw to make a deal so it’s worth taking longer to learn every about the property before deciding.” The research also reveals that the bathroom is important to 10% of tenants and just […]

Landlords are ‘helpful and fair’ say tenants

It may go against what many people believe, but a survey has revealed that most tenants believe their landlords are helpful and fair. The research was conducted by AXA Business Insurance which found little evidence to support stereotypes but that landlords could improve security and safety of their properties. Indeed, the research has revealed that there is a respectful relationship between a tenant and landlord with 59% saying their rent was a fair price. The survey also reveals that 48% of tenants said their relationship with their landlord was very good or good. Just 6% of tenants described their relationship as being very bad or bad with their landlord. Acts of kindness and goodwill from landlords   The survey also highlighted that there were frequent acts of kindness and goodwill between landlord and the tenant. Of those questioned, 28% said their landlord had done something that was considered ‘nice’. However, a worrying 43% of landlords have not carried out their annual gas safety check and 54% had not installed a fire alarm and 71% did not have a carbon monoxide alarm. The survey also flagged up that 68% had not organised an electrical safety inspection. When it came to improving […]

Seven tips on spotting a troublesome tenant

Every landlord gets lumbered with a troublesome tenant at some point, but is there a magic formula to cut the risk?

Licence v lease – Which is best?

Choosing the right rental agreement is crucial for landlords as getting it wrong can give the tenant more rights over the property than intended.

Buy to let doubles in 10 years

The number of people privately renting a home has nearly doubled in the past decade, according to the latest government census data.

Who rules the roost at a buy to let?

Most people think their home is their castle – and what they say about their property goes, but this is not necessarily the case between landlords and tenants.

Odd things tenants want from landlords

Landlords and letting agents are used to running around to deal with odd requests from tenants, but some just fail to understand that property professionals are not their servants.