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

brandonlee10
brandonlee10 24 Jul 2017

The financial ramifications of the triggering of Article 50, the starting gun for Britain's departure from the EU, are far from clear. Buyers will be most cautious in London, given that buying a home in...

view article
IrisJ.
IrisJ. 19 Jul 2017

Great advice, but may I also add that when buying an already built home, make sure you do all of the proper inspections. Most importantly pest inspection because people tend to get surprised when they

view article
IrisJ.
IrisJ. 17 Jul 2017

The third point is, in my opinion, the most important one. People have become too inconsiderate and careless when it comes to rented properties. If a landlord wants to protect their property, regular visits...

view article
cornishalan
cornishalan 10 Jul 2017

Added to the cost of purchasing these village properties are the above average maintenance costs. Particularly where the property is a listed building or requires specialist building skills such as thatching...

view article
Jo Mullett
Jo Mullett 07 Jul 2017

Here in Swansea, known as the Japanese knotweed capital of the UK, it never fails to amazes me that people have no idea of the potential problems this invasive non-native plant can cause when buying or...

view article
NathanG
NathanG 05 Jul 2017

McDonalds, for example, have been purchasing their real estate on prime locations for years. If something happens to the company they'll have invaluable assets that will be able to save them. We might

view article
Jonah
Jonah 04 Jul 2017

Graham: surprised to see you cite the "extra tax liability" as capping out at ?560. It doesn't - the extra tax is exponential, as it is levied on the income (i.e the inflating level of rental income you...

view article
Dianne Griffen
Dianne Griffen 29 Jun 2017

Be very wary of anyone bringing you deals that they have ?found? and want to ?sell on to you? or ?joint venture? with you on ? you need a proper legal contract for this, involve a RICs surveyor to confirm...

view article
jason hadzikostas
jason hadzikostas 28 Jun 2017

The most important thing is a budget. Students have to manage their spendings in food, house maintenance, books and many other things. According to me, student Studios are the perfect option for them as...

view article
SecomTech
SecomTech 22 Jun 2017

AT Last...This was discussed years ago and there was a move towards landlords registering their bad tenants on a database..(can't remember where) It seems a logical step though our leaders will probably...

view article
Bertrand
Bertrand 02 Jun 2017

How about the Welsh Govt introducing a scheme to protect landlords against "rogue" tenants who are then taken to court for criminal damage to the properties they trash. Pretty unlikely I suspect and politically...

view article
AmberMorris
AmberMorris 25 May 2017

"Please don't pick a novelty tune-playing doorbell. They're not 'fun'. They're stupid." Laughed a lot to this. It's actually true, though.

view article

Related stories

More articles from Landlords