As new research highlights a clear difference of opinion between landlords and tenants, should more property investors turn to fully managed?
- There is clear confusion between landlords and tenants as to who is responsible for maintenance issues and upkeep of properties during tenancies, new research finds
- Meter readings, paintwork and pest control are just some of the areas where renters and buy-to-let investors disagree
- With management issues often one of the stresses that discourages would-be investors from purchasing property, should more of these people, particularly those looking for a straight forward buy-to-let investment for their retirement, turn to fully managed?
When it comes to maintenance of property in the UK private rented sector, the expectations of tenants and landlords are very different.
New research from insurance provider Endsleigh has found that there is a clear conflict of opinion between landlords and tenants when it comes to many areas of property maintenance and upkeep.
Among the most hotly disputed areas is meter readings at the start and end of tenancies, with 73% of landlords placing the responsibility with the tenant, whilst only 35% of tenants believe it to be their responsibility.
Others include paintwork touch ups, with 60% of tenants believing their landlords should take care of this and 45% of landlords thinking otherwise, and pest control, where an overwhelming 84% of tenants feel this should be handled by their landlord compared to 32% of property owners who say it’s the responsibility of the people that are letting their investment.
As Endsleigh’s Lettings and Landlords Manager, Marcus Latchford, concludes: “Relationships between landlords and tenants can become strained when rental responsibilities aren’t fulfilled.”
Many buy-to-let landlords will say that property investment is a full time job, from maintenance to sourcing tenants creating a considerable workload. For many would-be investors, particularly over 55s who may be considering a buy-to-let investment for their retirement, this could be a factor that completely deters them from entering the market.
Choosing a fully managed investment from a proven, established provider will eliminate these stresses and allow investors to better assess costs and definitively calculate overall returns.