Estate agency network Your Move has reported that 42% of UK landlords rated trustworthiness as the most important quality in their tenants.
Meanwhile, 26% chose tenants to pay rent on time.
Your Move surveyed 1,071 landlords and tenants to learn more about their portfolios, behaviours and attitudes towards tenants, agents and the lettings market. When broken down by landlord type, this trend was especially prominent for ‘pension pot’ and ‘accidental’ landlords, who account for 41% and 29% of the buy-to-let market respectively.
Your Move’s annual Landlord Survey defines ‘Pension Pot’ landlords as those who are over the age of 45 and view their portfolio as a long-term retirement investment. ‘Accidental’ landlords – those who were not expecting to be landlords and are often forced into the market through inheritance or changes in personal circumstances – are most likely to be female and under the age of 45.
‘Pension Pot’ landlords are the most likely to build a personal rapport, looking for suitable tenants who will protect their investment which usually has sentimental value, with 18% saying they like to meet or talk to new tenants before signing a contract, the highest proportion of any group. 53% also felt it was important that tenants view the property as their own home.
When the same question was asked to tenants, the most important consideration was a property’s condition, with 51% of the tenants surveyed citing this factor, followed closely by value for money (40%). In joint third place was the quality of the landlord, good communication with an agent, and security of the property, all of which were named by 37% of respondents.
Martyn Alderton, national lettings director at Your Move, said: “Our survey results should highlight that landlords often share the same values and expectations as tenants. Both parties appear to prefer peace of mind with landlords expecting tenants to look after their property and, in turn, tenants expecting their landlord to provide a good quality home for them in return for the payment of a reasonable rent.
“As an industry, it’s important that we match tenant and landlord expectations carefully and support these relationships, providing tenants with a property to call their home and landlords with tenants who will look after their properties.”