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Landlord Causes of Stress: Finding good tenants
73% of landlords said finding good tenants was moderately or extremely difficult (UK Landlord Survey 2021). This can certainly be a tricky part of the process, especially for first-timers or landlords needing to find a tenant quickly.
The first step to finding good tenants is creating a high-quality advert. If your listing doesn’t do your property justice, your chances are already limited. Clear photos, a well-written description, and setting a realistic and competitive rental price will mean your property is well placed to attract the right tenants.
Whilst the advert should showcase your property, it must also be honest and accurate. There’s no point only showing photos of the best rooms or ‘forgetting’ to mention that the garden is shared. Sure, you might get more enquiries, but if a tenant arrives and the property is not as expected, it’s a waste of everyone’s time.
Landlords should carefully consider their specific tenant criteria. If you’re looking for students, don’t want smokers, or would prefer no pets in your rental, clearly state this in the property description.
Landlord Causes of Stress: Handling maintenance issues
Solving maintenance issues can be a significant cause of stress for landlords. Keeping the property and the tenant safe is a landlord responsibility, but arranging maintenance work can be tricky, particularly for emergencies that require a fast response.
59% of landlords revealed they found managing maintenance issues to be moderately or extremely difficult. Specifically, getting a good price from contractors proved most challenging, with 78% of landlords finding this difficult. A close second was finding a reliable contractor at 72% (UK Landlord Survey 2021).
Preparing a list of reliable tradespeople makes things much easier. We recommend having at least two dependable professionals for each maintenance area. Whether a plumber, electrician or gardener, relying on a single contractor is risky. And if they’re good at their job, they aren’t likely to be available at short notice.