Tenants have criticised landlords for failing to communicate with them and fix problems – and one in ten are renting without a proper tenancy agreement. Meanwhile, one third of landlords admitted to not knowing their legal obligations.
A 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.
One in four (25%) also say it takes their landlord over five days to respond to problems they’ve reported, with the same number saying their landlord hasn’t fixed urgent problems at all.
However, many landlords feel they are being exploited by irresponsible tenants, with two in five reporting having had troublesome renters. On average, 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 over the years.
The survey also revealed that almost one in ten tenants say they do not have a formal tenancy agreement or contract in place for the property they are renting. Almost one third of landlords say they are unaware of their legal requirements as a landlord.
Eddie Hooker, CEO of Total Landlord Insurance, said: “Landlords need to put in place standard operating procedures so that each party know where they stand when issues arise. It was also staggering to learn that more than half of landlords do not even have rent guarantee insurance on their properties.”
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Comments
Nor really sure if Coincidence & Paul actually read the article? I wonder how much due diligents Paul does to ensure his remote landlords are abiding by the law.
The article, highlights the problem with the industry at the moment, with no set regulating body to ensure that both landlords and agents adhere to the same rules.
I am not suprised that landlords do not know their responsabilities, there is no one to teach them.
These landlords in the 1st instance want to save money thats why they didnt use an agent in the 1st place and they all think Lettings is easy and have an "i know it all i dont need an agent" attitude.
while organisations such as ARLA etc..... continue to preach to agents and not spend any of the agents costly subscription fees to actually educate the people that matter, the general public, then these stories will continue to show in the press.
and while unscrupulous individuals continue to prey on these landlords with there 'cheap fix' websites then this problem will never be resolved.
Zoopla have just merged with DPG (Findaproperty, Primelocationand Globrix) Zoopla have also just done deal with the Evening standard to power their (free to landlords bypassing agents service) using technology paid for by Letting and management Agents.
As a result of the Evening Standard scandal Zoopla were insistent that they do not accept listing from private landlords yet it is very clear that the accept listings on behalf of Landlords from Agents that are not really Agents in the Professional, caring complying with regulations kind of way.
This story is about the 10% of Tenancies that do not have AST agreements. No "real" Agent would risk setting up a tenancy without and AST so this story is living proof that a sub world exists where false Agents and their landlords are riding roughshod over legislation.
Despite their Rules Zoopla seem happy to condone and power this sub industry that benefits no-one but the corner cutting landlord and the Agencies set up to bypass rules designed to support best and safe practice.
Seriously Confused... The story shows what happens when you use a landlord who does not have a clue and is obviously not using an agent. The two comments below show how easy it is for private landlords to post on Rightmove. Fairly easy unless you are a clueless landlord...
Sorry but what are Coincidence and Paul going on about!?!?!?!?!?
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I am not surprised, the reading I have been doing as a result of EveningStandardgate shows that there is a widespread industry of companies that have an internet presence of an Letting and management Agent but are nothing more than a conduit for Landlords to bypass Agents and get Portal space and exposure that ought to be denied them by “strict portal rules” (yeah right!)
Who reading this really thinks that once a landlord has hold of a deposit and a standing order for rent, things like a tenancy agreement really matters, Gas Safety check? Pah! Fire Regs, PAT Tests they are all things that simply have no place in the thoughts of these either the "Agents?" or the landlords they service.
Never mind though the "Agent is registered with TPO, that make them an Agent, doesn't it?