Today we want to share with you the importance of maintaining good relations with your tenants especially with such economic uncertaintyupon us
We’re living in challenging times, that’s for sure. With the cost of living accelerating faster than wages it’s certainly putting household finances under pressure. From a tenant’s point of view they need to see value for money in whatever they’re spending on. Whether it be cinema tickets, gym membership or rent they will vote with their feet.
It’s never been more important for landlords to make sure that their rental properties are kept in A1 condition. If tenants are having to put up with leaky taps, inefficient heating systems or damp conditions they will almost certainly be looking to move on to something more affordable and energy efficient. So if you have good, reliable tenants you will want to keep them so you need to ensure the maintenance is dealt with swiftly. With rents on an upward trend due to inflationary pressures then a property will definitely need to justify any increase.
The problem facing landlords is getting hold of a reliable contractor in a timely manner. They seem to be in short supply like every other commodity at the moment! If a rental property is managed by an agent then it is more likely that the response time to get things fixed will be a lot quicker and indeed less expensive more often than not. The point to remember is that an agent will use contractors regularly and will have formed solid working relationships meaning that the agent will be looked after by the contractor in terms of competitive pricing and turnaround time.
