Tenancy agreements may lead to regret as the demand for buy to let properties increases.
Indeed, according to a recent research 61% of the people who were interviewed expressed their disapproval of some features of their rented homes. More than 30% confessed the decision of renting their property was rushed. Whilst 19% of tenants complained about the temperatures in their accommodation, 20% was unhappy with the size.
In addition, the absence of a garden was the cause of disappointment for 7% of tenants, 8% were irritated by the lack of maintenance by landlords and 10% disliked the location of the property. Moreover, neighbours were identified as the cause of dissatisfaction by 13% of the tenants who took part in the research. Concurrently 11% expressed their regrets for signing the contract, due to the high costs of the rent. As demand for rental properties increases, tenants feel the pressure of having to choose properties really quickly and, thus, are more likely to regret their choices afterwards.
However, other researches have shown an increase in the number of people willing to live alone and to rent a property. According to a survey made by Strutt & Parker, nearly half of the people interviewed confirmed they were inclined to turn to the private rental sector to find accommodation.
About 75% of them declared that they would be living alone. Among them, within the 18-29 age group, 45% stated they would be willing to live in a professionally managed property.
20% of the people willing to move said mobile coverage is among their priorities when choosing a property, whilst 36% prioritised broadband connectivity, listing it among the top reasons for moving.
Furthermore, the survey highlighted the fact that attitudes between various age groups are changing. A 10% increase has in fact been registered among those intentioned to move, as they showed a positive attitude when confronted with the thought of living with tenants from different generations, in the same property.
Stephanie McMahon, head of research at Strutt & Parker, explained how the nature of households is changing, with the number of single and alternative households constantly increasing. Younger generations are, in fact, welcoming the idea of living in a rented property, and those who are close to retirement are looking for more dynamic settings.
As demand in the rental sector increases, familial structures change and tenants are rushed into taking properties, landlords find themselves having to adjust to the changes while responding to the needs of their tenants. At Arthur Online we offer our help to landlords and property managers who want to have an efficiently managed tenancy, while also offering an innovative approach to compliance and regulation.
Arthur is a unique system that brings property management on cloud and gives landlords the opportunity to supervise their properties on the go. Simultaneously, it reassures tenants by offering a professional and transparent communication channel for them to voice their issues and make sure they are being dealt with in a collaborative manner.
Arthur is available as an app on all mobile devices – it optimises the management of one or multiple properties by bringing all files and information in one place and connecting everyone involved in the process. Arthur has created a new organised and prompt approach to property management, which not only helps landlords and property managers optimise their work while providing them with additional tools; it also offers an interactive platform for tenants to communicate and thus to collaborate to the management of a property – all through a simple and straightforward digital interface.
Article Courtesy of: Arthur Online