NB: ALSO SEE THE ATTACHED BRIEF
Know Your Market: What Tenants Say About Rental Risks
Whether you’re a tenant or a landlord, it can be difficult to know what the other side’s thinking – so what do tenants really think about renting? Our survey delves right in!
Common Rental Properties:
• Over 20% of people surveyed rent a terraced house
• A surprising 8.2% rent a shared room
• Bungalows, cottages & studio apartments were the least common
• More than 32% of people either didn’t understand or didn’t read their tenancy agreement before they signed it. Take the time to explain it!
How Landlords Are Contacted:
• Almost 2/3rds of people rarely or never contact their landlord for major issues
• More than ¼ of people contact for major issues every 6 months – or more frequently.
• 16% of tenants say they’ve had issues paying rent on time or have missed it altogether.
Break-ins & Crime
• Almost 7% of tenants have been broken into in the last five years
• Although over 93% have stayed safe!
• Almost 3% of all the tenants we surveyed have had to take legal action against their landlord.
• Let’s get it to 0%!
How Approachable Is Your Landlord?
• Almost 1/3rd of people feel their landlord is extremely approachable
• Another 35% say their landlord is approachable for the big issues
• Although 10% say they’re either not approachable for big issues or not approachable at all!
How Easy Are They To Get Hold Of?
• 83% of tenants say they find their landlord easy to get hold of – which is great!
• But almost 1/5th say that they’re hard to get hold of.
• Being upfront and honest is the most important for 48% of tenants
• Reliability is the most important for ¼ of all tenants surveyed
• The top three are:
1. Upfront & honest
2. Reliable & easy to get hold of
3. Quick to organise repairs
• Just 4% say it’s vital their landlord is polite and understanding – they’d rather them be honest and reliable!
Most Important Rental Factors
• The most important rental factors for tenants are:
1. Low Rental Prices
2. Basic Property Maintenance
3. Quick responses to complaints
• The least important factors for tenants are:
1. High EPC Rating (Energy Performance Certificate)
2. Discounts for longer tenancies
3. White goods & appliances included
• 16% of tenants say they’re not happy with their landlord – half of these don’t like their property, either.
• But a whopping 76% say they’re happy with both their property AND their landlord.
• So it’s not all bad news!