Homelet’s recent survey of almost 2,000 landlords has brought to light common factors landlords feel make their lives particularly tricky.
Although it can be a great investment, owning a rental property is not always plain sailing, and it seems tenant turnover tops the list of grievances.
18% of landlords said high turnover is their biggest cause of stress – a vacant property can mean no income, and constantly having to search for new tenants is a time-consuming job.
Relying on tenants is a recurring theme in the survey’s results. Other causes of landlord stress include non-paying tenants (12%) and finding good quality tenants (5%).
However, there are certain options available for landlords that can alleviate the stress of relying on tenants. Smart City Rooms’ Assured Rent Service means that we effectively become the tenant. Each month, landlords receive rent from Smart City Rooms, even if their property is vacant. And we’ll find and look after the tenants too. You can find out more about our Assured Rent Service here.
Other stresses include the responsibility of safety checks and regulations, which accounted for 10% of the landlords that participated in the survey.
But, aspiring landlords shouldn’t worry too much – it’s not all doom and gloom! The survey showed that of the 40% that selected ‘other’, the common response was that they do not find being a landlord stressful at all.
Landlords – do you agree with the results of the survey? We would love to hear your thoughts. Have your say and tweet us at @smartcityrooms.
Want to find out how Smart City Rooms can make life as a landlord easier? Visit our services for landlords section, or give our friendly team a call on 020 7078 0215. Alternatively, send us an email at firstname.lastname@example.org, and we’ll get right back to you.