A recent survey by insurers Endsleigh have shown that in order to compete in the highly competitive rental market, many landlords are going above and beyond to make sure their tenants are happy.
With competition to attract the best tenants stiff, landlords are going out of their way to provide high quality properties, good fixtures and fittings, and provide an excellent renting experience – 40% admitted that they would even be prepared to redecorate at a tenants request if it kept them happy.
The research has highlighted that the demands and expectations of today’s tenants are growing, and as such, the standards of the private rental market is being pushed up by landlords desperate to stay ahead of the competition - 90% of landlords surveyed said that they have gone above and beyond what is expected to make their tenants welcome, while 41% say they would unreservedly go the extra mile to keep their tenants happy.
Being keen to keep hold of good tenants may be due to the fear of what could happen if a ‘bad’ tenant moved into their property. Having bad tenants in situ who caused damage to their property is the biggest concern for 20% of landlords surveyed, ahead of a vacant property (19%) or the rising cost of maintenance (15%).
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