That’s when good landlords become good friends Tenant Satisfaction

That’s when good landlords become good friends

  • 69 per cent of landlords have a good relationship with their tenants
  • A third of landlords are good friends with their tenants
  • 76 per cent of landlords are confident they could rent out their property if their current tenants left in the next six months
  • Most important characteristics people want to see from their landlord are responding to issues quickly, asking for reasonable rent and drawing up fair tenancy agreements

London, 1st June 2017: New research1 by landlord insurer Direct Line for Business debunks the myth that landlords and tenants don’t see eye to eye. Over two thirds (69 per cent) of landlords surveyed said they have a good relationship with their tenants, while a third (33 per cent) believe they are good friends.

Only two per cent said they have a poor relationship with their renters, while 15 per cent have no interaction at all, as all communication is handled by a management or lettings agent.

This positivity is reflected in landlords’ view of the buoyancy of the UK rental market. Three quarters (76 per cent) of landlords’ state they feel confident they could fill their property without losing any rental yield should their existing tenants move out in the next six months. Over a quarter (27 per cent) of landlords are very confident there would be no void period if their current tenants moved out, meaning they wouldn’t lose any rental income.

Christina Dimitrov, Business Manager at Direct Line for Business said: “The idea that landlords and tenants can’t get on is a fallacy, as many of these relationships are very positive and are often long lasting. Having a good relationship with your tenants is beneficial as they will be more likely to flag problems with the property quickly, enabling the landlord to arrange for a swift repair and therefore minimising inconvenience and expense for both parties.”

When it comes to the top three traits landlords are looking for in a good tenant paying the rent promptly (58 per cent) is most important; followed by being respectful of the property and its contents (41 per cent) and being clean and tidy (37 per cent). Signing long-term tenancy agreements (11 per cent) and renewing contracts (8 per cent) rank as far less important than the behaviour of a tenant during the rental period.

In comparison, research by Direct Line for Business2 reveals the characteristics tenants appreciate most in their landlord. The top qualities were the ability to respond to issues quickly soon after they arise (69 per cent), asking for a reasonable rent, never unexpectedly or unfairly raising the rent (52 per cent) and drawing up a fair tenancy agreement (37 per cent).

Characteristics of a good landlord

Landlord characteristics

Percentage ranking trait as most important

Always responding to issues quickly soon after they arise

69%

Asking for a reasonable rent and never unexpectedly or unfairly raising the rental amount

52%

Drawing up a fair tenancy agreement

37%

Easy to get in touch with

25%

Being a member of an accredited landlord scheme, such as the National Landlord Association or Residential Landlords’ Association

22%

Maintaining a nicely kept property with good furnishings and amenities

21%

Being open to suggestions, such as allowing pets or replacing or upgrading furnishings or amenities

12%

Giving me the freedom to add my own personal touch to the property

9%

Keeping me up-to-date with any changes that may affect me or my lease

8%

Source: Direct Line for Business 2017

Christina Dimitrov, Business Manager at Direct Line for Business said: “Overall, the most important quality for landlords and tenants is the ability to be open, honest and fair. Maintaining a good relationship between renter and landlord is vital to a harmonious tenancy.”

For more information about Direct Line for Business’ Landlord Insurance, please visit: https://www.directlineforbusiness.co.uk/landlord-insurance

Notes to Editors

1 Opinium Research interviewed a UK nationally representative sample of 2,001 people, between 3rd and 7th February 2017, of which 275 were landlords

2 Opinium Research interviewed a UK nationally representative sample of 2,004 people, between 11th and 13th February 2017

For further information please contact:

Citigate Dewe Rogerson
Antonia Green
Tel: 020 7282 2967
Email: antonia.green@citigatedr.co.uk

Direct Line for Business
Jade Trimbee
PR Manager
Tel: 01372 839 452
Mobile: 07825 315 931
Email: jade.trimbee@directlinegroup.co.uk

Direct Line for Business

Launched in 2007 Direct Line for Business provides a range of insurance products for the small business sector direct by phone or online.

Direct Line for Business insurance policies are underwritten by U K Insurance Limited, Registered office: The Wharf, Neville Street, Leeds LS1 4AZ. Registered in England and Wales No 1179980. U K Insurance Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Direct Line for Business and U K Insurance limited are both part of Direct Line Insurance Group plc.

Customers can find out more about Direct Line for Business products or get a quote by calling 0345 301 4827 or visiting www.directlineforbusiness.co.uk

Landlord Insurance Press Release

Added: 1st June 2017