There’s some good news for landlords and tenants alike as the majority of tenants are satisfied with their landlords according to the National Landlords Association’s quarterly tenant’s panel. Overall, eight in ten current tenants (79%) across the UK are pleased with their landlord’s performances so far. While of course there’s still room for improvement, these are clear indications that the landlord/tenant relationship is thriving in major parts of the UK.
For landlords in Wales and the East Midlands, the findings of the panel were even more encouraging with 92% and 83% of tenants stating that they were satisfied with their landlords.
Why so satisfied?
It’s likely that there are multiple factors contributing to the majority of tenants’ satisfaction with their landlords. It could be as a result of new laws being implemented to protect tenants’ best interests, and organisations like the NLA keeping tenants informed and updated.
Another possible factor is that, with time, landlords and tenants may be better informed about terms and clauses in the tenancy agreement and better at negotiating at the beginning of the tenancy.
The introduction of tenancy deposit protection in 2007 has helped safeguard tenants’ deposits and provide assurance and confidence to tenant’s who are safe in the knowledge that their deposit is protected by a government authorised scheme. It’s also likely that the efforts of the schemes to increase tenant and landlord communication throughout the tenancy are ultimately leading to a decrease in formal deposit disputes.
As tenancy deposit schemes are based on being fair and impartial to both parties, there is arguably now less to argue or worry about, as security deposits were, historically, a frequently contested issue.
Indeed, these findings suggest that the rapport between both tenants and landlords is, overall, a happy one.
“It’s not surprising.”
These findings are encouraging for anyone thinking about becoming a landlord. This is what Richard Lambert, CEO of the National Landlords Association (NLA) had to say on the matter:
“Good landlords make up the majority of the market so it’s not surprising that the majority of tenants are satisfied.
“Private renting is far from the insecure, uncertain and unhappy picture that it is often made out to be, and these findings will help to reassure existing renters and those looking to make their home in the private sector.”
He then went on to explain that there are initiatives and courses for those that feel they need help being a better landlord, or are at a loss for what they can do to improve their relationship with a tenant.
“The NLA provides a range of training and accreditation opportunities for landlords in order to help them develop and improve standards, which is good news for the minority of tenants who are dissatisfied.
“However, this is only part of the solution and both central and local government must also commit more resources to tackling poor standards and weeding out bad landlords”.
So while the NLA is doing their best to bring more amicability and mutual understanding to the buy-to-let industry, this is hopefully just the start of what we can be done to create better relationships between tenants and landlords.
How important is satisfaction?
It’s safe to assume that the more satisfied a tenant is with their landlord, the longer they are likely to want to stay in the property. This often benefits both parties but particularly the landlord by helping to reduce void periods and any costs associated with marketing the property.
Not only this, but your reputation as a good landlord in the property industry could possibly increase and attract other tenants; there are not many better forms of good press than word of mouth.
Ofcourse, we know that the tenant and landlord relationships can often break down particularly at the end of the tenancy when it comes to proposing deductions to the deposit to pay for things like cleaning charges due to an unclean oven or for redecoration due to damp and mould. In the unlikely event that landlords and tenants cannot agree on these deductions then we provide an award winning deposit resolution service to help resolve the matter outside of court. We also provide a wealth of best practice guidance in our resource centre including helpful tips for negotiating deposit deductions for both parties. Find out more here.