What do landlords and tenants have in common?
The landlord-tenant relationship in the UK is often portrayed as strained in the media.
Seen as one-sided often in favour of the landlord it’s sometimes justified. However, it’s always a few bad landlords who tarnish the reputation of many. The reality is that there are many great landlords letting beautiful properties, managed by reputable agents, who are changing the rental landscape for the better in the UK.
Both landlords and tenants need and want stability
Stability is key to a good tenant-landlord relationship. As a tenant, you want to feel secure in the place you live, and as a landlord, you want to ensure you have a continuous rental stream. Having a good tenancy agreement in place is vital to securing each other’s interests and sets a platform to build trust. It’s important that the tenancy agreement is understood by both parties, and the little details that create stability and happiness are always worth considering.
Property maintenance is central to building a good relationship
Landlords are on the same side of the fence when it comes to keeping your home or property in tip-top shape. You want to live in a well-maintained property; informing your tenant or letting agent of any issues is in the landlord’s interests. It stops minor fixes from becoming expensive repairs. A managed property will benefit from an on-call property maintenance team that can sort out any niggles. After all, you want to be happy with your home. And landlords know happy tenants are good for business.
The legal landscape is changing for both tenants and landlords
Each person, whether you are a landlord or tenant, benefits from legal obligations. These, if followed, protect you, and by being compliant, you have a sure legal footing to stand on. Legislation is constantly evolving. The Renters Reform Bill has been on the horizon for quite some time and is very slowly going through parliament. Even though there is a considerable amount of time to wait before it becomes law, many landlords and tenants will benefit from it. However, due to a lack of understanding, some landlords fear it. Getting to grips with legislation will reinforce rights and benefit tenants and landlords.
Landlords and tenants benefit from good communication
This is vital and sometimes neglected by unscrupulous tenants or landlords. From maintenance to preventing misunderstandings that could lead to conflict or confusion. If there is agreed-upon communication established with expectations agreed upon from the start, then you will prevent little niggles and costly issues from occurring. All tenants want to be as comfortable as possible, and any landlord worth their salt will be interested in how to make tenants happy. It’s a real learning curve for both.
Landlords and tenants benefit from fully managed properties
There is a lot to think about and even more to do when letting your property. Tenants also have a time-consuming process to follow, from getting references and gaining a clear understanding of their tenancy agreement to finding a good property in the first place. New legislation and the challenges and opportunities in the rental market make it more important than ever to know your stuff as a landlord. A fully managed letting service can manage every aspect of the property and process for tenants and landlords. This includes property maintenance, rent collection, compliance, to matching good tenants with equally good properties, and more.
Landlords and tenants benefit hugely from a managed letting service.
Contact us for more details.
This article was originally published by BriefYourMarket and is reproduced here with their permission.
Your guide to investing in multiple-occupancy homes
Investing in multiple-occupancy homes (HMOs) can be a great way of increasing yields, making them very attractive investment opportunities for landlords.
Landlords! When was the last time you booked a rental valuation?
Rental demand still outstrips supply in the UK, and your property is unique, which is why it’s important to understand its true rental value.
Have you double-checked your tenancy agreement?
When you have found the perfect rental property for you, it can be very tempting to sign on that dotted line in a hurry.