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|Posted on October 27, 2016 at 6:05 AM|
WHY LANDLORDS, AGENTS & TENANTS NEED EACH OTHER
There are few days that go by without me seeing some negative press about scumbag, rip-off landlords, or negligent agents failing in their duty of care and charging exorbitant fees, or tenants not paying their rent and wrecking properties.
The British Press just can’t resist having a pop, because we love a good story that blames someone else for the wrongs in our society.
So, here’s a novel approach to all that negativity, a positive spin on the rental market!
Did you know that the vast majority of landlords are really quite nice people? Yes, it’s true! Sure they own property to rent out, and yes, it’s an investment. They hope for long term capital growth and cashflow from the rental income. Do they do it because they are greedy, money grabbing, heartless people? Absolutely not. They are simply looking for somewhere to invest their savings and do their bit to help with the cronic housing shortage in this country.
Look, I’m not so naïve to think there is not a small minority who give landlords a bad name, but show me an industry which is squeeky clean from top to bottom.
I am pleased that the landlords whose properties I manage, want to look after their tenants by providing a home that is in good order, sorting repairs and maintenance quickly and efficiently, and ensuring they meet their legal responsibilities.
They delegate much of this responsibility to a local agent who will charge a fee to the landlord for executing these duties. The agent will also be expected to find suitable tenants who will have been referenced and credit checked, and who will have been furnished with all appropriate paperwork under current housing regulations prior to keys being handed over. Post check in, the agent will manage the property, ensure that rent is paid on time and handed over to the landlord. I am always saddened when I hear of agents who act in an unprofessional manner towards their landlords and tenants. Ultimately they will lose business and their reputation. I have no sympathy I’m afraid!
Tenants will expect a nice tidy, clean home to move in to, and will expect that any repairs and maintenance issues are dealt with quickly and efficiently by the agent. Tenants who feel listened to, and who see that the landlord and agent are doing their best to look after them and their home, will be happy tenants, who will hopefully become long term tenants. Yes, there will always be the odd rogue tenant who slips through the net and causes problems. That is part of the risk that landlords and agents sign up for.
There is no doubt in my mind though that BAD landlords, BAD agents, and BAD tenants are often attracted to each other!
So, that being the case, then the opposite must be true as well. The power of attraction is indeed very POWERFUL!
I am proud of the fact that at Freedays Property I get existing tenants recommending my services to their friends and families; that existing tenants who need to move want to stay with my agency; and that previous tenants who have perhaps moved away and returned to the area, call me first to see if I have anything suitable for them to rent.
In conclusion as to why LANDLORDS, AGENTS and TENANTS need each other, here are a few bullet points:
* LANDLORDS need AGENTS who will act ethically, honestly and professionally, and they need TENANTS who will pay their rent on time, look after their property and treat it as their own home
* AGENTS need LANDLORDS who will keep their properties in good order and who understand and comply with their legal responsibilities, and TENANTS who pay their rent on time and look after the property and treat it as their own home, complying with the terms of their tenancy agreement
* TENANTS need LANDLORDS and AGENTS to provide rental properties for them to live in, and who will deal with issues swiftly and efficiency, and who charge reasonable fees and rents
The rental market should be a market that is based on (GOOD!) RELATIONSHIPS between the 3 main parties involved. If this can be fostered and maintained, then it is a
situation all round. Simples!!!
Freedays Property Services