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Landlords Name Trustworthiness as the Most Important Quality in Tenants
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
42% of landlords in the UK named trustworthiness as the most important quality in their tenants, a new study from Your Move reveals.
In comparison, just over a quarter of landlords (26%) rated paying the rent on time as the most important quality.
The estate agent surveyed 1,071 landlords and tenants to learn more about their portfolios, behaviours and attitudes towards tenants, letting agents and the housing market.
When the qualities looked for in tenants are broken down by landlord type, the trends seen were especially prominent for pension pot and accidental landlords, who account for 41% and 29% of the buy-to-let market respectively.
Your Move’s annual Landlord Survey defines pension pot landlords as those who are over the age of 45 and view their portfolio as a long-term retirement investment.
Accidental landlords – those who were not expecting to be landlords and are often forced into the market through inheritance or changes in personal circumstances – are most likely to be female and under the age of 45.
Pension pot landlords are the most likely to build a personal rapport with their tenants, looking for suitable renters who will protect their investments, which usually have sentimental value, with 18% saying that they like to meet or talk to new tenants before signing a contract – the highest proportion of any group. Over half of this group (53%) also felt that it was important that tenants view their properties as their own homes.
When the same question was asked to tenants, the most important consideration was a property’s condition, with over half of the tenants (51%) surveyed citing this factor, followed closely by value for money (40%). In joint third place was the quality of the landlord, good communication with an agent, and security of the property, all of which were named by 37% of respondents.
Martyn Alderton, the National Lettings Director of Your Move, says: “Our survey results should highlight that landlords often share the same values and expectations as tenants. Both parties appear to prefer peace of mind, with landlords expecting tenants to look after their property and, in turn, tenants expecting their landlord to provide a good quality home for them, in return for the payment of a reasonable rent.
“As an industry, it’s important that we match tenant and landlord expectations carefully, and support these relationships, providing tenants with a property to call their home and landlords with tenants who will look after their properties.”
