Why do tenants prefer managed properties?
Various surveys conducted by different agencies in the UK indicate that up to 75% of tenants prefer renting managed properties. At first, this may seem unexpected, as one might assume that both tenants and landlords would rather avoid involving a middleman. So, what makes prospective tenants so eager to rent properties managed by letting agents?
1. Concerns About Untrustworthy Landlords
With reports of problematic landlords frequently making headlines, tenants naturally worry about being deceived. No one wants to move into a property that turns out to be unsafe or vastly different from what was originally promised.
2. Avoiding Strained Relationships With Landlords
A landlord doesn’t have to be dishonest to be difficult or unpleasant to deal with. Small issues or disputes can quickly escalate, leading to tension and frustration for both parties.
Tenants often feel more at ease communicating with a property manager, who can handle concerns professionally without taking complaints personally.
3. Demand for Reliable and Prompt Service
Private landlords often juggle multiple properties alongside busy personal and professional lives. They may also live far from their rental properties, making it difficult to respond quickly when urgent repairs arise, such as a broken boiler or faulty appliance.
Tenants prefer managed properties because letting agents have the resources and staff to handle maintenance requests efficiently, often providing 24/7 support. This level of service is particularly important for corporate tenants, whose expectations private landlords may struggle to meet.
4. Assurance of Professional Standards
Many tenants have encountered landlords who lack knowledge of legal responsibilities or struggle with effective communication, leading to misunderstandings.
Letting agents, however, are well-versed in rental laws and tenant rights. Their experience allows them to foresee and prevent potential issues before they arise. Additionally, many agents are affiliated with professional organizations such as Propertymark, NRLA, and UKALA, ensuring adherence to industry standards.
5. Greater Transparency in Rental Processes
Letting agents provide formal tenancy agreements and clear documentation on key matters like deposits, rent payments, and inspections. This structured approach protects tenants from unfair practices that might occur with independent landlords who have less oversight.
6. Regular Property Inspections and Maintenance
Routine inspections conducted by letting agents help maintain the property’s condition, ensuring tenants live in a well-kept home. Letting agents also hold landlords accountable for meeting their obligations, adding an extra layer of protection for tenants. Since agents value their own reputation, they are more likely to enforce high standards in property management.
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