Survey finds how tenants can both be willing to renew their contract and agree to a rent increase
More than a third, or 36%, of all tenants would both renew their contract and accept a rent increase if they had a positive relationship with their landlord, research from price comparison website Uswitch has found.
The survey of more than 2,000 tenants also revealed that half of them would renew their contract, but only without a rent increase. Only one in 10 tenants would neither renew their contract nor accept an increase in rent.
Uswitch noted that the youngest group of tenant respondents – the 18- to 24-year-olds – had the lowest percentage of those willing to base both of their rental decisions on their landlord-tenant relationship, at just over a quarter, or 26%. This age group gave the second highest vote to the option renewing without an increase at 53%, only narrowly behind their peers aged 25 to 34 who gave 54% of their vote to this option.
Meanwhile, tenants aged 55-plus were the most likely to consider a contract extension and rent increase based on a positive relationship with their landlord, with over four in ten, or 44%, voting for this option.
When asked to vote on what contributes to a good landlord-tenant relationship, Uswitch said both groups shared the same top five values.
Communication was determined to be the most important to each group, with seven in 10, or 71% of, tenants selecting it, and half, or 51%, of landlords agreeing.
The other top values were honesty, upkeep of the property, abiding to the terms and conditions of the contract, and being aware of their responsibilities.
A vast majority, or 89%, of tenants said that they trusted their landlord to try their best to solve any issues related to the property. Furthermore, over half of all tenants surveyed reported that they had not had any disputes with their landlords, whether about maintenance, communication, or other issues.
“It is clear from our survey data that tenants place a lot of importance on the positive values that go into a successful landlord-tenant relationship,” commented Kellie Steed, buy-to-let mortgages expert at Uswitch.com.
“The best way to avoid any bumps down the road is to be clear with your expectations from the get-go. Our survey data also shows that tenants place high value on communication in the landlord-tenant relationship, so it’s important that you are reachable.
“Giving tenants as much notice of visits as possible, communicating appropriately, and fixing issues after they are first reported, are all actions that will help build a respectful – and therefore successful – relationship with your tenant. By showing respect to your tenants, it is more likely they will act respectfully in return, towards you and your property.”
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