Residential Lettings – Market Update

Associate Partner & Manager, Sheldon Bosley

Michael Scott, Associate Partner & Manager, Residential Lettings & Management, Sheldon Bosley

My previously published comments regarding the change in the nation’s attitude to the properties we live in and the positive light in which residential renting is now seen, seem to be being borne out.

The results of a recent survey carried out in the first quarter of 2015, on behalf of a specialist buy to let company, show that 81% of tenants of private landlords are satisfied with their landlord and the property while 70% think the rent they pay gives value for money.

While demand for rental properties remains high, it is apparent that tenants now accept the higher rent levels but, quite rightly, expect a higher standard of accommodation for their money. This is where Sheldon Bosley is well  placed to provide advice to landlords on the standard expected by the modern tenant as well as the current legislative requirements for rented property.

In the past, some landlords have had a poor attitude towards tenants, holding them in low esteem and seeing any  expenditure on rental properties as wasted money. Over the years, this attitude has changed as tenants are now seen as the ‘end user’ or ‘customer’ and any business must accept that to keep their customers they must provide a level of
service which is acceptable.

Landlords will find that presenting a property well for marketing and maintaining the property well during the
tenancy will make for happy tenants who will stay in properties as long as their circumstances allow. A happy
landlord is one benefiting from a reasonable rent and with minimum void periods.

For more information and advice on letting or managing a property, please contact Sue Maaz FARLA in our Shipston-on-Stour office or Michael Scott FARLA in our Stratford-upon-Avon office.