Reference checks are important for UK landlords, new research finds

27 09 2016

Ensuring potential tenants have passed reference checks is the top priority for landlords when selecting an agent to let their property, according to new research.

Almost 70% of landlords cited checks as a highly important consideration but the rent achieved on a property did not appear in the top three factors taken into account by landlords, the survey from Hunters Estate Agents found.

The second most important issue was the speed at which the property is let, with trained staff coming in at third while 41% of landlords believe that finding a long term tenant is a key factor.

It suggests that landlords value reliable and consistent tenants over those that will pay higher rents. Unsurprisingly, 66% of landlords surveyed also mentioned speed of let as a key priority, reflecting the need to avoid empty properties to evade loss of income.

‘It is undeniable that the UK has a growing market for lettings, with more people renting than ever before, whether this is because they are struggling to get onto the housing ladder or enjoy the flexibility renting gives them,’ said Carrie Alliston, head of lettings at Hunters Property .

‘It is therefore highly important to ensure that although the market is widening, agents are still doing the necessary procedures to protect both landlords and tenants. At Hunters our staff are trained to find the most reliable tenants to ensure our landlords receive rent in good time, their properties are well looked after and are unlikely to be left empty at short notice,’ she explained.

‘Whilst it is important to ensure our investors are achieving a good return on their properties, it is reassuring to see that despite rental price increases across the country. Our landlords have not cited marketing their properties at the most expensive price possible as a priority for them,’ she pointed out.

‘This indicates that the increase in rental prices across England is due to wider market factors, such as house price increases or the additional stamp duty charges introduced in April, rather than landlord greed,’ she added.

 

via Property Wire

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