In their special report Buy to Let: The Landlord Experience, published in June 2019, The Mortgage Lender delved deep into the problems faced by landlords; in particular, problematic tenants.
1) Single Person
2) Benefit Recipients
3) Single Family
4) HMO (House in Multiple Occupation)
Overall, the least problematic tenants were students and houses of multiple occupation. This reflects changing landlord expectations, as student accommodation and multi-unit blocks were historically looked at as problematic tenants. However, as one landlord noted, “you can never predict.”
1) Property damage
2) Nonsensical complaints (ie changing a lightbulb)
3) Money owed for up to 3 months
4) Furniture damage and/or theft
5) Unpaid utility and other such bills
Landlords also cited "arguments between tenants and neighbours” and “starting a business from private residence without informing and no insurance” as other problematic occurrences. When asked to rank the tenants responsible for such issues, the result were as follows:
1) Single Family
2) Single Person
3) Benefit Recipients
4) Professional Multiple Occupancy
5) HMO (House in Multiple Occupation)
This is a welcoming statistic, as it shows there are many good relationships between landlords and tenants. Indeed, a positive relationship is invaluable and can be a huge asset for a landlord; having a good reputation boosts the rental potential of your property and ensure a stress-free tenancy.
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