When Tenant management is badly handled things can go very wrong
Good tenant management is paramount in turning a profit. Tenants often have a good reason to get frustrated and when they do, things can scale to a point where a tenant will give notice or worse withhold rent. ARLA (Association of Residential Letting Agents) looked carried out some research as to what problems tenants faced. Interestingly 55% of tenants in the UK’s private rented sector (PRS) have experienced problems with their landlord or their appointed letting agents. Here are the main points of the survey.
- 31% of PRS tenants was the length of time taken to fix problems in rental properties including issues with boilers, heating and electrical outlets – tenants have waited an average of 36 days for the problem to be fully resolved.
- 14% of PRS tenants never had their rental property problems fixed at all.
- 18% of tenants surveyed reported frustrating delays with landlords not replacing worn out fixtures and fittings on demand, including requests to replace old or damaged kitchen cupboards or tired and worn carpets.
- 14% of the tenants surveyed, felt that their complaints about repair issues were either ignored or brushed off by landlords or their appointed letting agents
These findings highlight the need for better communication between PRS landlords, letting agents and tenants. Tenants leaving beacuse of bad tenant management is bad for business. Tenant retention is a very important factor when it comes making a profit.
Technology can really help and good quality software where tenants are able to report problems and track them will help them feel comfortable and above all listenened to. Roberta a student from sussex university is one such tenant who`s landlady provides her tenants with such an application. See what Roberta thinks about using such an application.