Trustworthiness as the most important quality in tenants, more important than paying rent on time, while tenants say a property’s condition is top consideration when renting.
Some 42% of landlords in the UK’s private rented sector put trustworthiness as their top quality, according to a new survey for estate agency network Your Move.
Just 26% of landlords said that tenants who pay on time is the most important consideration and the survey also found that 51% of tenants said that the most important issue for them is the condition of a property.
The survey shows that 41% of respondents were pension pot landlords, that is those who are over the age of 45 and view their lettings portfolio as a long term retirement investment, while 29% were accidental landlords, those who were not expecting to be landlords and are often forced into the market through inheritance or changes in personal circumstances.
It found that pension pot landlords are the most likely to build a personal rapport, looking for suitable tenants who will protect their investment which usually has sentimental value, with 18% saying they like to meet or talk to new tenants before signing a contract, the highest proportion of any group. Over half of this group, some 53%, also felt it was important that tenants view the property as their own home.
When the same question was asked to tenants, the most important consideration was a property’s condition, with 51% if those surveyed citing this factor, followed closely by value for money at 40%.
In joint third place for tenants 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.
‘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,’ said Martyn Alderton, national lettings director at Your Move.
‘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,’ he added.
