Landlords rate tenants’ trustworthiness most importantly

Landlords_rate_tenants_trustworthiness_most_importantly

 

Trustworthiness is the attribute landlords rate most highly in tenants, according to new research.

 

A study by estate agency network Your Move found 42% of UK landlords rated honesty and reliability as the most important qualities in their tenants, compared to 26% who said tenants who pay rent on time was their number one concern.

 

Pension pot and accidental landlords, who account for 41% and 29% of the buy-to-let market respectively, are more likely to value trustworthiness in their tenants than professional landlords.

 

Read more: More landlords to be forced to make energy upgrades

 

The Your Move survey of over 1,000 landlords defined pension pot landlords as those over the age of 45 who have invested in property to fund their retirement. They are more likely to look for tenants who would take care of their investment, with 18% saying they like to meet or talk to new tenants before signing a contract, the highest proportion of any group.

 

The majority of this group also wanted tenants to feel at home in their rented property, with 53% saying it was important that tenants view the place as their own.

 

Accidental landlords, meanwhile, are those who have inherited a property through a change of circumstances, such as an inheritance or a divorce. They are most likely to be female and under the age of 45. They too would prefer to let to people who they believe can be trusted to look after the property.

 

Read more: The Autumn 2018 Budget: what landlords need to know

 

On the other side of the rental divide, tenants rate the property’s condition as their number one consideration, with 51% of the tenants surveyed citing this as their main concern, followed closely by value for money (40%).

 

In joint third place was who the landlord was, good communication with an agent, and security of the property, all of which were named as important by 37% of respondents.

 

Martyn Alderton, national lettings director at Your Move, said: “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.

 

Discount Landlord offers landlords competitive Landlord Insurance policies to suit your needs, at a price that’ll suit your budget!

Call 0800 294 4522 for a 60-second quote today!

19th November 2018