Belvoir Sheffield, the leading letting agent in Sheffield, has backed the findings of a new report indicating that one in ten tenants are renting without a proper tenancy agreement and are unaware of their legal obligations more generally.
The study carried out by Total Landlord Insurance involving landlords and tenants across the country found that 21% of tenants say they’ve had a bad level of communication with their landlord, and one in four (25%) also say it takes their landlord over five days to respond to problems they’ve reported.
Rick Flay, Director at Belvoir Sheffield, who offer a wide range of property to rent in Sheffield, said: “These figures do not come as a surprise at all. I regularly come into contact with landlords who do not have the experience or knowledge to adhere to their legal obligations and are unaware of what is expected of them as a landlord.
“Interestingly enough, the report also found that many landlords feel they are being exploited by irresponsible tenants, with two in five reporting having had troublesome renters. On average, it was found that two thirds of landlords said they have had tenants default on rent or not pay on time, while four out of five have lost money due to unpaid rent. This just goes to show the importance of having a professional lettings agent to get the most out of your investment and avoid costly mistakes.” added Rick, whose letting agency on Campo Lanein Sheffield, specialises in providing flats to let in Sheffield
The survey also revealed that almost one in ten tenants say they do not have a formal tenancy agreement or contract in place and one third of landlords say they are unaware of their legal requirements as a landlord.
Rick added: “When a tenant moves into a rented property it can sometimes be confusing when attempting to establish both the responsibilities of the tenant and the responsibilities of the landlord, which has led to a rising number of private sector landlord prosecutions since 2010, where landlords have been found guilty of endangering the lives of their tenants by not complying with either safety or legal obligations demanded by UK law.”
Belvoir Lettings Agency Sheffield is the One Stop Specialists for Lettings including Property Management, Tenant Find, Investment and Wealth Management Advice, Fit-outs and Renovations, Furniture Packs and Investment Property Insurances and Buy to Let Mortgages.
