KNOW YOUR MARKET - WHAT TENANTS SAY ABOUT RENTAL RISKS

KNOW YOUR MARKET What Tenants Say About Rental Risks Whether you're a tenant or a landlord, it can be difficult to know what the other side's thinking – so what do tenants really think about renting? Our survey delves right in! 1 Common Rental Properties: Over OF PEOPLE SURVEYED RENT 20% A TERRACED HOUSE A surprising 8.2% RENT A ROOM IN A SHARED HOUSE. Bungalows, cottages & studio apartments were the least common 2 Rental Agreements: of people either didn't understand or didn't read More than 32% their tenancy agreement before they signed it. Take the time to explain it! m 3 How Landlords Are Contacted: Almost 2/3rds of people rarely or never contact their landlord for major issues More Than 1/4 of people contact for major issues every 6 months - or more frequently. 4 Rent Payments 16% of tenants say they've had issues paying rent on time or have missed it altogether. 5 Break-ins & Cı 7% Almost OF TENANTS HAVE BEEN BROKEN INTO IN THE LAST FIVE YEARS Although over 93% HAVE STAVED SAFE! Legal Action Almost 3% of all the tenants we surveyed have had to take legal action against their landlord. Let's get it to 0%! 7 How Approachable Is Your Landlord? 1/3 35% 10% ALMOST 1/3RD OF PEOPLE ALTHOUGH 10% SAY THEY'RE ANOTHER 35% SAY THEIR FEEL THEIR LANDLORD IS LANDLORD IS APPROACHABLE EITHER NOT APPROACHABLE EXTREMELY APPROACHABLE FOR THE BIG ISSUES FOR BIG ISSUES OR NOT APPROACHABLE AT ALL! 8 How Easy Are They To Get Hold Of? but almost 83% of tenants say they find their landlord easy to get 11TTT1/5TH hold of – which is great! say that they're hard to get hold of. 9. Landlord Qualities BEING UPFRONT AND HONEST IS THE MOST IMPORTANT FOR 48% OF TENANTS 1/4 RELIABILITYIS THE MOSTIMPORTANT FOR OF 1/4 ALL TENANTS SURVEYED The top three are: Upfront & honest Reliable & easy to Quick to get hold of organise repairs SAY IT'S VITAL THEIR LANDLORD IS POLITE AND UNDERSTANDING - Just 4% THEY'D RATHER THEM BE HONEST AND RELIABLE! 10 Most Important Rental Factors The most important rental factors for tenants are: The least important factors for tenants are: HIGH EPC RATING LOW RENTAL PRICES (ENERGY PERFORMANCE CERTIFICATE) BASIC PROPERTY DISCOUNTS FOR MAINTENANCE LONGER TENANCIES QUICK RESPONSES TO COMPLAINTS WHITE GOODS & APPLIANCES INCLUDED 11 And Finally... But a whopping 16% 76% OF TENANTS SAY THEY'RE NOT HAPPY SAY THEY'RE HAPPY WITH BOTH THEIR WITH THEIR LANDLORD - HALF OF THESE PROPERTY AND THEIR LANDLORD. DON'T LIKE THEIR PROPERTY, EITHER. So it's not all bad news! TO Cia LET EXPERTS IN LET INSURANCE www.cia-landlords.co.uk CALL TODAY f www.facebook.com/CIA.Insurance.Services 01788 818 670 www.twitter.com/CIAInsurance Customer Services Mon - Fri 9.00am to 5.30pm Sat 9.00am to 2.00pm Sales & Renewals Mon - Fri 9.00am to 7.00pm Sat 9.00am to 4.00pm "This data is based on 200 respondents to a survey carried out on behalf of CIA Insurance"