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Do you have a good relationship with your tenants?

The majority of landlords have reported a strong relationship with their tenants.

New research by a leading insurer has revealed that over two thirds of landlords have a good relationship with their tenants, with 33% saying that they are good friends with their tenants. 15% have no contact whatsoever with their tenants as all communications are dealt with through their letting agents. An encouraging statistic is that just 2% of landlords report having a poor relationship with the people renting their property.

 

Relationship Valued Over Income

A good relationship is so important for a number of reasons. Tenants are more likely to report issues if they are happy with their landlord, allowing for a quick solution, minimising inconvenience and in some cases, cost. As we have discussed previously, most landlords prefer having “good quality” tenants to high rents, indicating that they value the relationship more than simply maximising their income.

 

What Do Landlords Look For in Tenants?

So, what characteristics are important to landlords when choosing tenants? 58% of landlords cite someone who pays rent promptly as the number one concern. 41% say tenants that are respectful of the property are important to them, and 37% say cleanliness and tidiness is preferable. Just 11% say that signing long-term tenancy agreements is important, again demonstrating that income is not necessarily a big concern to landlords. From a tenant perspective, 69% say they like landlords to respond quickly to issues when they arise, with 52% requesting a reasonable rent with no unexpected increases.

If you are one of the 58% of landlords concerned about prompt rent payment, take a look at Rent on Time’s rent guarantee service. We ensure that landlords and agents receive rent on time, every time.