Tenants cause a third of landlords stress

Tenants cause a third of landlords stress

A new report from property management specialists, London Shared, has uncovered the truth about the demands placed on landlords by their tenants and the struggles they face.

According to the survey, a third of landlords polled discovered the full-time nature of the role more stressful than they initially thought it would be.
 
The research, which polled 500 British landlords, found that the job of a landlord in today’s Britain is far from easy, with almost eight in 10 (76%) landlords stating their tenants do not understand their own responsibilities as renters, and cause one in 10 (10%) landlords to develop anxiety issue due to their tenants' behaviour.
 
For many landlords, the demands of their tenants means they are on-call for 24 hours of the day, with over a third (34%) of landlords receiving calls in the middle of the night from renters, with minor issues for call outs ranging from unblocking drains (23%), lost keys (19%) and changing a light bulb (13%).

Top five minor issues landlords are called out for

1. Unblocking the drain (23%)
2. Lost keys (19%)
3. Turning on the heating (14%)
4. Changing the light bulb (13%) // Changing a fuse (13%)
5. Mowing the lawn (7%)


The role of today’s landlord can not only be time-consuming but it’s also complicated. Indeed, when looking at the demands placed on landlords, tenants’ stresses and requests are only part of the picture. The ever changing property market and complex regulations mean that 43% of landlords are unclear on what their current responsibilities are when it comes to repairing their property.

And, despite a surge in recent years in the number of landlords turning their properties into HMOs[1], only a quarter (24%) of landlords are clear on their legal responsibilities for adequate HMO licensing, and their need to apply for an HMO license (18%).

The survey further revealed that landlords are spending an average of 11 hours a month managing their property, and 83% spending of up to £5000 per year on property repairs for their rental home.

The research suggests that a major source of landlords’ stress is likely due to the fact that 40% are receiving their rental payments late. Of those receiving late payments, almost a fifth (18%) have ended up defaulting on their own bills.

Additionally, when looking at those that have received late or missed payments from tenants, a further one in 10 (11%) are unable to pay off their existing debt, and 6% have even had to take their children out of school (6%) as a result. An additional one in five (22%) have also undergone a costly court process to obtain the money owed to them by tenants.

The survey findings highlighted that many landlords are dependent on their rental income to pay off their mortgage (50%), children’s school fees (13%), and renovate their rental property (23%).

Indeed the research reveals that some tenants are causing such severe problems for landlords that a quarter (24%) have had to serve a notice to their tenants. Of those who have had to serve notice to troublesome tenants, the main reasons cited were rent arrears (69%), damages to the property (44%) and inappropriate behaviour (24%). Further reasons include subletting without consent (18%) and using the property for illegal purposes (11%).

Yet despite it being illegal to live in the property once the eviction warrant is served, 44% of tenants who had been served the warrant refused to leave, with the process of eviction taking between 6-8 weeks (25%) causing a huge amount of financial pressure on landlords. As a result of the pressure, 13% of landlords wish their property was managed by someone else.

Join our mailing list:

Leave a comment



Latest Comments

Jimmy_McCoy
Jimmy_McCoy 16 Sep 2016

I think that the main reason to buy garden purchases in last minute is because people always search for the best deal. In summer months there are abundance of seasonal goods and it means more low cost

view article
Jimmy_McCoy
Jimmy_McCoy 16 Sep 2016

Buying a home often is more expensive than you expect. There are lots of hidden costs such as: stamp duty, surveys and valuations, mortgages etc. that can add more than 10% to the total bill

view article
Homebuyerconveyancing
Homebuyerconveyancing 15 Sep 2016

We are seeing a massive influx of Homebuyers using online Estate Agents. The winners are the online portals that still aim to manage the customer journey to homeownership. They provide a valuation service,...

view article
oliviaG
oliviaG 12 Sep 2016

Without a doubt renovating can truly be very beneficial to many homeowners but it depends to a great extent on the condition of your home and the parts of it you want to refresh. Before you start you should...

view article
oliviaG
oliviaG 29 Aug 2016

So true about cats!

view article
Jason Roberts
Jason Roberts 25 Aug 2016

Any predictions what average rent will be at the same time next year, anymore drops coming?

view article
dylanvan
dylanvan 19 Aug 2016

very good, thanks for sharing

view article
SecomTech
SecomTech 19 Aug 2016

Firstly, I either lodge with DPS or do not take a deposit...secondly, If a tenant has not received a confirmation their deposit is secured with either a scheme or in an insured account with an agent/landlord,...

view article
jasonevans
jasonevans 19 Aug 2016

Belvoir has over 15 years of experience in property lettings, buying and renting and is one of the best agencies I know about. I have heard that they revived an award for the hard work. Really amazing...

view article
jasonevans
jasonevans 19 Aug 2016

Usually these areas are least affected when it comes to unexpected economical collapse.

view article
TheWaspNestRemover
TheWaspNestRemover 11 Aug 2016

You agree to pay for the treatment needed to get rid of fleas, ants, mice, wasps nests and other pests unless you can prove that these are a result of us not meeting our repairing responsibilities or these...

view article
madisonwelch80
madisonwelch80 02 Aug 2016

16% is quite a raise. Let's hope this tendency won't continue for long.

view article

Related stories

More articles from Landlords

Specialist Lending Roadshow 2016

20th-23rd September

4 days
7 specialists
4 locations
Free to attend

Click here to register now