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Surveys conducted by varies agencies in the UK have suggested that as many as 75% of tenants favour managed properties. At first glance, this situation may seem surprising, as you might imagine that both tenants and landlords would prefer to cut out the middle man. So, why are prospective tenants so keen to rent properties which are managed by letting agents?
The fear of rogue landlords
With problem landlords frequently hitting the headlines, tenants are naturally wary of being scammed. Nobody wants to find themselves in a dangerous property or to move into their new home only to discover that it bears no resemblance to what they have been promised.
A professional letting agent gives tenants the peace of mind that everything is above board and that their new home will be safe and as described in the advert. If maintenance issues arise, the tenant can rely on a property management company to send a reliable contractor to deal with the problems rather than a rogue trader.
Avoiding difficult relationships with landlords
A landlord doesn’t have to be dishonest to be awkward or unpleasant to deal with. Minor issues and complaints can soon lead to a breakdown of the relationship between tenant and landlord. The result is often resentment on both sides. Tenants feel more comfortable raising issues with aproperty manager who won’t take complaints personally and who will possess the knowledge and communication skills to handle the situation professionally.
The need for a reliable and timely service
Private landlords may have several properties to deal with, not to mention a busy life, a full-time job or a business to run. In addition, they may be living or working miles away. Even with the best intentions, a landlord may not be able to respond quickly when a boiler breaks down or an oven ceases to function. Tenants rightly feel that any problems they experience will be addressed quickly and efficiently by a property manager.
A letting agent will have the manpower and resources to attend to maintenance issues at multiple properties in a timely manner and at any time of the day or night. Corporate tenants will often expect a 24/7 service, and a private landlord is unlikely to be in a position to meet their needs.
Many tenants will have experienced landlords who do not understand their obligations or who lack the knowledge and experience to deal with certain situations. Poor communication skills can also prove problematic and lead to misunderstandings. Tenants know that letting agents will have a good knowledge of the law and will safeguard their tenants’ rights. Their experience will enable them to see most problems coming and so can prevent them from arising in the first place.
Oscar Knight Property Management
At Oscar Knight, our property management service gives both landlords and tenants greater peace of mind. Wouldn’t it be better to know that someone is available 24 hours a day to handle maintenance issues and that any problems will be dealt with professionally? Our expert knowledge will ensure that your property is managed to the highest standards and that it always attracts suitable tenants.