You’d probably imagine that the most important factor for a landlord when considering a tenant would be the ability to pay the rent, in full, and on time.
However, research has shown that it’s trustworthiness, which is more appealing to landlords, which isn’t as easy to prove on paper, as the ability to make the rent payments.
This character trait was desired most by accidental landlords; those coming into the market due to inheritance or a change in circumstances, and landlords investing towards their retirements.
These landlords make up a large section of the market, with 78 per cent of landlords owning just one property, and only 17 per cent owning at least 5 properties.
It’s also important to these types of landlords to meet their prospective tenants and to get to know them a little. As the property usually has some sentimental value, they’re often looking for someone to view it as their own home, and to take care of it as such.
Again, when tenants were asked what was most important to them, money wasn’t top of their list. It was property condition at 51 per cent, followed by value for money at 40 per cent.
Tenants are looking for a good quality landlord, and good communication with their agent. They don’t want to be fearful of blame when reporting maintenance issues, and in agreement, landlords would prefer to be in the know if there is a problem so they can resolve it quickly.
If landlords are managing their own property, rather than having an agent, it’s important to be local and to be contactable if things do go wrong.
Being pet friendly is another important consideration for renters. Even if they don’t have a pet when they first move in, if they’re looking for a long-term commitment, being pet friendly is a huge bonus. Being flexible, and open to these conversations can be the difference between keeping a good tenant long term, or them moving on.
This largely shows that landlords and tenants are on the same page with both parties looking for an open and honest relationship, with an emphasis on good quality from both sides.
Landlords are expecting tenants to look after their property, and in turn, tenants are expecting their landlord to provide good quality housing in return for a reasonable rent.