Landlords Need To Take Note Of Survey Findings
To Attract And Keep Good Tenants
One in three current PRS tenants have quit properties and ended tenancies within the UK private rental sector due to lack of repairs by landlords and the overall poor condition of rental properties in general.
These shocking tenant revelations are from a survey carried out on behalf of the National Landlords Association (NLA) by shower manufacturer Methven, last month.
The survey of PRS tenants discovered that poor quality fixtures and fittings in rental properties are a major cause of grievances and less than 10% of tenants who took part in the survey were completely happy with the condition of the property they were currently renting.
Over 60% of private rented sector tenants who took part in the survey said the standard of bathroom fixtures in rental properties is below average with 16% reporting that standards were poor. A further 53% claimed a good shower is an essential feature of a good rental property, which is good news for the shower manufacturers conducting the survey.The data gathered in the survey reveals that the decor and quality of fixtures and fittings in rental properties are the most important thing that tenants should consider when searching for a good rental property, with 33% of tenants stating that these were their top priority.
Location is usually a major factor for purchasing property but this important proviso is a secondary consideration to many tenants, with just 30% of respondents citing this as an important factor.
The survey also revealed that UK PRS tenants are taking water and energy efficiency into consideration when choosing properties to rent, with almost 75% of tenant respondents saying this is important to them.
NLA chief executive Richard Lambert stated: “In a market where growing numbers of people are renting properties for longer periods, tenants expect high standards in both property and management. Good landlords will recognise this and take action to ensure their rental properties are well presented and maintained throughout the duration of a tenancy.”
Methven chief executive, Steve Lee, commented: “Our survey demonstrates that tenants refuse to put up with below par conditions, but by instigating a relatively small number of improvements and eco-efficient measures, landlords could benefit from the long term financial security of having happy tenants.”
The results of this study should interest professional landlords and companies operating in the private rented sector, as it provides a valuable insight into what influences tenants when they are choosing a property and by taking this on board, property investors can buy suitable properties in the areas that match their criteria and lettings and property management agencies can work with landlords to improve their rental property portfolios that are offered to tenants.
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