Lettings professionals should do more to raise awareness of the need to reduce moving stress for tenants and landlords.
Industry supplier Tenant Shop says that while there is plentiful information and guidance for those buying and selling, there is much less for players in the lettings sector.
“Considering the rapid growth of the private rental sector – which now accounts for approximately 20 per cent of all households and represents the largest housing tenure in London – more needs to be done to make the moving process smoother for landlords and tenants” explains Tenant Shop managing director Glenn Seddington.
He says the is achieved on a two-way street.
On the one hand it’s crucial that landlords understand how key legislation such as the Tenant Fees Act, deposit protection and the Right to Rent scheme work in order to abide by regulations and protect their investment.
“Landlords will also want to make sure that as a new tenancy starts, the previous one is tied up and signed off, paving the way for a smooth changeover with no unpaid bills or charges outstanding” he says.
On the other hand it’s also important for tenants to be fully aware of their rights and obligations when it comes to renting a property and have the ability to showcase their value as a good tenant to a potential landlord.
“Once a tenant moves into a property, they will be eager to get everything sorted quickly so they can start to enjoy their new home. This can range from organising bills and council tax to managing utilities, and getting the TV up and running so they can get started on their next boxset” continues Seddington.
Specifically with regard to how letting agents can reduce stress for their clients and tenants, Seddington says: “Providing a first-class customer service has always been a vital part of maintaining long-term relationships with landlords, while impressive customer relations will not go unnoticed with tenants, who could go on to become future sellers or landlords.”
Seddington suggests agents providing innovative products such as deposit replacement schemes and new referencing options, which could reduce the financial pressure on their move – as well as wider PropTech effort-saving facilities.
“Not only will this reduce the chance of human error and provide consumers with a more succinct service, but it will also allow letting agents to spend more time growing other parts of their business” he says.
