Landlords

46% of tenants say the right landlord is key

|
22nd December 2016

New research from Your Move has found that nearly half of tenants feel that getting the right landlord is one of the most important factors when choosing where to rent.

According to Your Move, as well as considering the actual property, almost half (46%) of renters place extreme importance on who their landlord will be when deciding where to rent.

While value for money is important to 45% of tenants surveyed, the state of the property is a major consideration for the majority of tenants, with more than half (52%) stating that this is extremely important.  
 
The Your Move data also revealed that only 38% of tenants recognize property location as ‘extremely important’ when picking a new home.

The research involved more than 2,000 participants, and was commissioned to provide insights into the 4.5 million privately rented households in the UK – a number which is expected to grow to 6 million over the next few years.
 
Respondents also revealed a high level of satisfaction when renting, with 66% of all tenants either ‘happy’ (36%) or ‘very happy’ (30%) with their current circumstances, compared to only 15% who answered as ‘unhappy’ (10%) or ‘very unhappy’ (5%).
 
Valerie Bannister, Head of Lettings at Your Move commented: “It’s not just about where you actually live anymore, but also the condition of the property as well as whose roof you’re living under, that are collectively important to tenants these days. As the rental sector continues to grow, so do people’s expectations of what a property should offer them and its understandable that landlords who present and maintain their properties – and who even consider the lifestyles of their prospective tenants – will be viewed more favourably than others. It reflects our findings that the landlord's willingness to respond to reasonable requests from tenants, for property improvements etc. is viewed as extremely important when a tenant makes their decision to rent.

For renters our top tip is to make sure you know whether you will be dealing directly with the landlord or with the letting agent for things such as repairs, ‎and understand what the terms of the business arrangement is between them.  

Overall our results show that a landlord can make all the difference as tenants decide on their next move. From securing the deposit and dealing with any unforeseen problems, to maintaining a comfortable and secure environment, the role of the landlord is critical to tenants.  Although we’re pleased to see that 66% of tenants are happy with where they’re renting, we want that figure to be even higher. The Private Rental Sector needs to provide high quality accommodation that tenants feel excited about, rather than seeing renting as a second-best option to buying.”

Related articles
More from Landlords
Latest from Financial Reporter
Latest from Commercial Reporter