Greater than a 3rd of tenants would settle for a hire enhance, however provided that they like their landlord

With the demand for rented houses at present 10% increased than in March 2022, many tenants are going through the powerful resolution of whether or not to remain put of their present property on the expense of elevated hire, or to maneuver within the hope of a greater deal.

To find what number of tenants think about their landlord-tenant relationship when making rental choices, the Uswitch buy-to-let mortgage consultants surveyed tenants on whether or not they would settle for an extended contract or hire enhance if that they had a optimistic relationship with their landlord.

Tenants and landlords have been additionally polled on what qualities they suppose contribute to a very good landlord-tenant relationship.

Greater than a 3rd (36%) of all tenants would each renew their contract and settle for a hire enhance if that they had a optimistic relationship with their landlord. This was the second hottest choice, behind half of all tenants answering that they might renew their contract, however solely with no hire enhance. Just one in ten tenants would neither renew their contract nor settle for a rise in hire.

18-24 year-olds had the bottom proportion of tenants prepared to base each of their rental choices on their landlord-tenant relationship, at simply over 1 / 4 (26%). Nevertheless, this age group gave the second highest vote to the choice renewing with out a rise (53%), solely narrowly behind their friends aged 25-34 who gave 54% of their vote to this selection.

On the different finish of the dimensions, tenants aged 55+ have been the most certainly to contemplate a contract extension and hire enhance based mostly on a optimistic relationship with their landlord. Over 4 in ten (44%) voted for this selection, 16% greater than 18-24 year-olds.

Tenants aged 55 and over have been the least more likely to renew their contract with out accepting a hire enhance, based mostly on a optimistic relationship with their landlord, with 44% voting for this selection, while all different age teams had votes in extra of fifty%. Tenants within the age vary 25-34 had the best vote on this space, with 54%.

The information signifies {that a} vital variety of tenants would settle for a hire enhance, however provided that that they had a very good relationship with their landlord. When requested to vote on what contributes to a very good landlord-tenant relationship each teams shared the identical prime 5 values.

Communication was decided to be an important to every group, with seven in ten (71%) tenants deciding on it, and half (51%) of landlords agreeing. While the highest 5 values of the 2 teams matched, the outcomes present that tenants place extra significance on these qualities, with a minimum of 10% extra tenant votes for every.

Virtually 9 in ten (89%) tenants answered that they belief their landlord to strive their greatest to unravel any points associated to the property. This result’s break up nearly evenly between 44% answering that they ‘considerably belief’ and 45% answering that they ‘considerably belief.’ Moreover, over half of all tenants surveyed (56%) reported that that they had not had any disputes with their landlords, whether or not about upkeep, communication, or different points. buy-to-let mortgages professional, Kellie Steed, shares tips about learn how to construct a optimistic relationship with tenants.

Steed mentioned, “It’s clear from our survey information that tenants place plenty of significance on the optimistic values that go right into a profitable landlord-tenant relationship. The highest 5 qualities have been all chosen by greater than half of the tenants surveyed, and it’s these optimistic relationship constructing blocks which have influenced 36% to contemplate renewing their contract on a better hire.”