Quality will be key in 2019

It’s news to no one that some landlords have exited the market over the past couple of years as a result of the changes the market has experienced. As such, it’s been suggested that there will be less properties available to rent and more competition among tenants.

Related topics:  Property
Ying Tan
11th December 2018
ying tan 2

However, the fact that there is more demand for rental properties should not mean landlords can afford to be complacent. Indeed, it’s never been more important for landlords to ensure they’re offering a top notch service to their tenants and providing quality housing. Here’s why.

Firstly, just because some landlords are exiting the market, that doesn’t necessarily mean that there’ll be higher demand from tenants. The properties these landlords are selling could well have been bought up by former renters, thus decreasing the size of the tenant market. Alternatively they could have been snapped up by landlords who are continuing to grow their portfolios (and there are a lot of them around) meaning the size of the rental market hasn't actually changed.

Secondly, it’s very clear that the government has the lettings industry in its sights. From consultations over longer tenancies to the incoming Tenant Fees Bill, there is a clear focus on the safety and security of renters and ensuring the UK rental sector is fit for purpose.

I personally think this spotlight on the sector is a good thing. Yes, it may create some challenges for landlords but it means the government is finally taking renting as a long-term tenure seriously – something which those of us operating in the sector have wanted for years.

For too long has the rental market been seen as a last resort and an option only for those who cannot buy. By focusing on quality and security for tenants we can promote renting as a long-term option and a fully acceptable form of tenure.

In order to ensure the success of the market in 2019, landlords must be prioritising quality and putting the needs of their tenants first. And everyone involved will benefit as a result.

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