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.

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Scott Garnet
Scott Garnet 06 Nov 2017

If you have a patio or a porch it is important to make sure that any connecting doors are secured. Good advice for sliding glass doors is replacing the panels with storm resistant glass and getting heavier...

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richardrawlings
richardrawlings 01 Nov 2017

What has not been mentioned here is the effect of not only higher interest payments, but also that these payments are less likely to be offsettable as a business cost due to the scaling back of mortgage...

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Kelvin Lloyd
Kelvin Lloyd 09 Oct 2017

IT is up, to the Planners. If they will only give permission for bungalows on certain (suitable) sites, they will be built.

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maggie swift
maggie swift 09 Oct 2017

It's just the beginning of the shocking rise.

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maggie swift
maggie swift 09 Oct 2017

I have recently read that the bungalows can provide social housing for elderly residents in London.

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zoe glover
zoe glover 05 Oct 2017

Update! Worst company I have ever dealt with. Undervalued a Cambridge property by over 100k, wont take on any evidence of valuation including a RICS valuation done 3 years ago for the very same value...

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Paul Edwards
Paul Edwards 27 Sep 2017

Its nonsense articles such as this that make it harder to get clients to realise just how difficult the market is out there. When you see Rightmove and there are more 'price reduced' then 'new' most days...

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Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

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RyanGeo
RyanGeo 18 Sep 2017

A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

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sean benton
sean benton 01 Sep 2017

Identity theft is a thread for any profession. So,people should stay alarmed. I once take help from a letting agent and came to know that letting agents are taking every precaution to prevent fraudulent...

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Mark N.
Mark N. 30 Aug 2017

We have seen a surge in instructions over August and that should continue into September too.

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Chris
Chris 30 Aug 2017

Unfortunately, all the legislation bears its force on Landlords and ignores, naively, the effect of Rogue Tenants on the ability of landlords to keep houses in repair and offer properties for rent at reasonable...

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