This blog content is sponsored by Hunters estate and lettings agents South East London for exclusive use of Smart Inventory.

Landlords: Avoid These Problems That Cause Tenants To Move Out

When a tenant moves out, landlords have a lot of work to do. There is a need to bring in a new tenant as quickly as possible. Landlords want to avoid void periods as much as they can because when the rental accommodation is empty, they don’t bring any money in. Therefore, when a tenant announces they are leaving, landlords are occupied with the task of finding a new tenant.

However, it is crucial landlords think about the reasons tenants move out. If a landlord can highlight reasons why a tenant leaves their rental accommodation, they can make changes that minimise these issues for future tenants. Making improvements to rental housing will hopefully see prospective tenants remain in the property for longer, making the process of being a landlord less daunting.

The English Private Landlord Survey was issued in 2019 by the Ministry of Housing, Communities & Local Government. Letting agents and landlords were asked their opinion on various topics, with a focus placed on why tenancies ended.

Many tenancies end due to the tenants’ wishes

75% of leases ended because of tenants deciding to terminate the agreement and in 50% of these instances, the tenant decided against renewing. This is a high proportion of cases, so it is essential for landlords to be aware of why tenants move out.

There will be times when a landlord cannot do anything to make a tenant stay in the rental property. Sometimes tenants move out of rental accommodation because they are moving to a new area for work or studies, their circumstances may have changed, or they may be looking to buy a property. In these instances, no matter the changes made by a landlord, the tenant will still leave the property.

However, there are times when a tenant leaves because they are unhappy with the rental property or some matter of the agreement. It won’t be a surprise, but many tenants leave because they feel unhappy about rental fees.

Rental fees is an important factor

There will be continual disagreement regarding rental fees, and in the current economic climate, every individual must assess what constitutes value for money for them. If a tenant is unhappy with the rent, the landlord has a problem to solve.

Reducing the monthly rent would make the tenant happy, but is this affordable for the landlord? Also, is this a long-term solution? By making a significant concession in this manner, the landlord may lose some element of control in the landlord and tenant relationship.

Of course, just because the current tenant is unwilling to pay the current rental fee, this doesn’t mean that no potential tenants are willing to pay a higher rental price. Landlords should consider if they can let their property for a higher rental fee. This outcome may require additional home improvements, but if a higher rental fee is obtainable in the local market, it is something for landlords to consider. When landlords end a tenancy, it is sometimes because they believe they can obtain a higher rental fee than their current tenant is happy to pay.

At Smart Inventory, we know landlords must satisfy tenant demands, but landlords must also focus on their own business needs too.

If you are a landlord looking for assistance, check out the range of services provided by Hunters estate and lettings agents. They operate in Forest Hill, New Cross, Peckham, Dulwich and Brockley as well as the surrounding towns. They have been awarded one of the Top Three Letting and Estate Agent offices in London for several years running and have many other customer focussed awards, so contact them for support.

Hunters South East London – 0203 0024089

brockley@hunters.com

Foresthill@hunters.com

dulwich@hunters.com

newcross@hunters.com

peckham@hunters.com

lewisham@hunters.com

Website – Hunters estate agents South East London

This blog content is sponsored by Hunters estate and lettings agents South East London for exclusive use of Smart Inventory.