Landlords Do Care About Tenants Wellbeing
According to a new survey carried out by a rental insurance firm, it has found that in direct contrast to the popular belief of landlords being money grabbing ogres, they do care about their tenants wellbeing.
It’s been a hard last couple of years with all of the new changes imposed upon landlords such as reducing mortgage interest tax relief, the Prudential Regulation Authority’s tougher lending criteria, Universal Credit national rollout, stamp duty increase and so on.
In spite of these regulatory impositions, the research claims that 43% of landlords that took part have either helped or will support vulnerable tenants if they failed to tell them about any damage to their property …….and that even extends to those receiving housing benefits. Only 27% stated that they would start the eviction process immediately.
Just 16% said that Universal Credit is going to make them alter their rental strategy suggesting that many will carry on ‘ housing’ tenants receiving benefits.
According to another piece of research nearly two thirds of landlords will support Universal Credit tenants and work with them if they fall into arrears, by arranging to receive their rental payments direct from the DWP.
Alex Hartley of the insurance firm, said: “There is no doubt that Universal Credit is putting both tenants and landlords under pressure. It’s refreshing to see how many landlords actively want to support tenants wellbeing when they get into difficulties, and how many want to help plug the social housing gap so many local authorities face.
“We hear a lot about rogue landlords but this research presents a rather more humanitarian view. Landlords are people. The problem is that they are not charities. They are people who are running businesses – and they can’t run at a loss.
“Legislation like Universal Credit is making it harder and harder to view tenants on benefits as a valid strategy – and despite these landlords’ good intentions, I worry where that’s going to leave some of the UKs most vulnerable tenants in 2018.”
Richard Merrick of PIMS, comments:” A successful tenancy is built upon trust and a mutual respect. I do think it may be unlikely that if tenants fail to inform their landlord of the property being damaged, that nearly half of Buy to Let investors would be prepared to ‘turn the other cheek’.”