Responding quickly to tenants' problems 'critical' for landlords
Landlords could benefit from professional property management services to help them keep their tenants happy and respond quickly to any problems they may have.
According to David Lawrenson, private rented sector expert at consultancy and advice service LettingFocus.com, in an increasingly competitive market, landlords need to be far more responsive to tenants' needs than they may have been in years gone by.
"It is about a close attention to detail, being able to respond quickly and getting things done as quickly as they can - that is what tenants really want. You are running a business and you need to respond quickly and effectively [to any problems]," he said.
Failing to do this could ultimately cost the landlord both time and money, the expert argued, as it means the tenant is more likely to move out and will need to be replaced.
"If you don't treat tenants like your customers, then they will soon leave and you will have to then be in the business of having to recruit new ones," he said.
"Because of the costs of setting up a new tenancy, you ideally want your tenants to stay a long time, so looking after them well is critical."
Landlords who may be worried about the workload that comes with responding to tenants' problems may wish to use the services of residential lettings agents to provide assistance.
Mr Lawrenson's comments follow recent advice issued by tenancy deposit scheme mydeposits on how landlords can avoid disputes with tenants.
Most importantly, landlords should make sure both they and their tenants sign an AST (Assured Shorthold Tenancy) agreement, laying out in print what is expected in terms of keeping the property in good shape, while also setting out their own commitments to their tenants, for instance agreeing to carry out timely repairs if necessary.
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