The survey, conducted by Hillarys, saw 2,302 landlords questioned about their experiences in letting property. Overall, 62% revealed they had no issues with their tenants, with regular mortgage payments and minor property damage contributing for an "ideal situation".
According to the survey, 13% of landlords regretted letting their property, with many blaming problem tenants. What's more, 25% of respondents revealed they felt worried about their limited control over tenants and their treatment of the property.
But should landlords really feel nervous? Apparently so, suggests Hillarys: 41% of those surveyed admitted they had experienced difficulties with their tenants.
58% of landlords found tenants contacting them about minor or non-existent issues to be an incredibly frustrating experience. Also noted were unapproved home modifications (41%), neighbour complaints (26%), and late rent payments (18%).
An alarming trend (23%) was tenants causing damage, then expecting landlords to cover the costs. In fact, the average cost for repairs and maintenance once a tenant moves out was £210!
So while relationships between landlords and tenants have progressed, it seems there is still room for improvement—especially as 9% of respondents said they evicted tenants due to persistent issues.
Vincent Burch offer competitive and comprehensive insurance advice for let properties, covering occupied or unoccupied properties and all types of tenants, plus a wide range of cover options at competitively priced monthly premiums.
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