It is easy to feel that once you've actually made a property investment, the hard work is over. However, this is when the journey actually begins and it is important to develop the skills needed to become a good landlord if you want to keep good tenants. A survey by Upad has recently revealed what this actually involves.
According to the study, 95 per cent of all tenants believe it is important that landlords are easy to contact. Maintenance was crucial to 88 per cent, while 89 per cent believed it was essential or very important that a landlord consults with them on the timing of repairs to a property. Interestingly, only 37 per cent expect landlords to give the correct notice before entering a property. Tenants also find it annoying when landlords complain about repairs, charge excessive administrative fees and rely on cheap furniture. Renters also take umbrage to being treated as an income stream and not a real person.
When asked what advice they would give to landlords, respondents said it would go a long with tenants to fix things when they are wrong and not just when the represent a danger. Keeping promises, responding to issues seriously and respecting the fact that the property is now someone else's home were also identified as maxims landlords should live by.
James Davis, founder of Upad.co.uk and a landlord with 15 years' experience, said: "The results of the survey show that to be successful as a landlord the same rules apply as for any business: invest time listening to your customers' needs and you'll earn their loyalty and respect."
The findings are based on the responses of 720 tenants when asked what makes an ideal landlord. Those that pass the test were overall thought to be the ones that deal with problems swiftly and efficiently, give plenty of notice before entering a property out of respect, consult on when repairs will take place and keep in regular contact.
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- Monday 04 November 2013