An effortless property investment may help landlords avoid tenant disputes while still enabling them to supplement their income with rental returns.
- Many landlords across the UK have been involved in disputes with their tenants this year
- The main cause of dispute among landlords and tenants is property damage
- Purpose-built student accommodation can be an example of an effortless property investment
One in ten landlords have experienced a dispute with their tenants over the past year.
Many people choose to make buy-to-let property investments in order to supplement their income, however traditional channels can be time-consuming and stressful.
According to a new survey by My Property Inventories, the main cause of problems in 2014 was property damage with 66% of landlords opting to settle the dispute in court.
As well as damage, which accounted for 58% of disputes, other issues included redecoration and rent arrears.
“It is so important that agents and landlords ensure they have all the right documentation and evidence to improve their chances of resolving or winning a dispute,” said Danny Zane, Director of My Property Inventories.
He explained that normal wear and tear is often a “fact of life” with rental accommodation, but landlords still need to prepare a thorough inventory if they want to minimise the chances that there will be a dispute in the future.
A more modern alternative to owning and managing a property on a day-to-day basis is an effortless property investment. Certain residential blocks and particularly student property investment allow people to fully own individual properties, receive the rental returns associated with those properties, but the properties themselves are maintained by a management team.
This arrangement means that damage disputes and all other tenant grievances are dealt with by the management team and the investor does not need to commit any time to the issue.
It has proved to be very popular within the investment community, with more than £6 billion worth of student property investment being made over the past three years.