The number of landlords not carrying out thorough checks on their tenants is rising, according the insurance firm AXA.
60% of tenants admit to breaking the terms of their rental agreement, and a third have broken the law in relation to their rental.
Furthermore, 26% of tenants pay their rent late, a percentage equivalent to 2,158,000 tenants nationwide. 18% have kept pets without their landlords’ permissions, 15% have received complaints from their neighbours regarding noise, and 8% sub-let without permission.
Perhaps the most shocking statistic of all is that 8% admit to having committed a crime on the premises. Landlords are responsible for making sure their property is not used for criminal activity, so should be extra vigilant when it comes to checking this.
‘Why are landlords being so negligent?’ you may ask. With the rise of accidental landlords comes the rise of poor landlord-tenant relationships and communication, due to lack of education regarding the role of a landlord.
“During the recession, we saw a significant increase in the number of accidental landlords – people who never expected to rent out their property, but couldn’t sell a former home or needed the additional income. With a booming rental market, they aren’t going anywhere,” said Darrell Sansom, managing director at AXA Business Insurance.
“While legislation toughens, we need to make sure that enough is being done to inform and educate landlords too. Certainly, our experience is that many new landlords aren’t wilfully failing in their duties, they simply aren’t aware of all their obligations and commitments.”
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With its fully integrated and intelligent design, landlords will save time and money, allowing them to scrutinise their tenants sufficiently before signing any contracts.
If you are a property manager, property owner, landlord or letting agent, your business will save time and money by using Arthur. Try out the free Arthur Demo today to see how!