Could families be your ideal tenants?

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Despite the perceived risk by many landlords, new research from the National Landlords Association (NLA) suggests that families could be ideal tenants.

Landlords were questioned about the time they spend on property management, business administration and the time taken to respond and deal with maintenance requests in their property.

 

The results

The survey suggests that landlords renting to families and young couples spend on average eight hours a week on property management, compared to the 12 hours a week for landlords letting to migrant workers, benefit recipients or executive lets.

CEO of the National Landlords Association, Richard Lambert, said: “This data reinforces the fact that families make good, reliable, and long-term tenants, but some landlords can be put off by the perceived risk of more damage or wear and tear to the property or its contents.

“However, if you’re properly maintaining the property then tenants will be more likely to stay for longer anyway, particularly families who typically seek more stability. This is just one more argument for establishing a proper maintenance schedule in the first place.

“Landlords who rent to migrant workers or provide executive lets may find it takes up more management time because there’s a greater churn of tenants which means re-marketing the property, drawing up tenancy agreements, and conducting property viewings more regularly.”

With families searching for long-term lets this could represent a longer rental yield for many landlords making them an attractive prospect. 

You can find out more about wear and tear in our handy guide here.

 

Are there regional differences?

The NLA research also suggests that there are regional differences in the time landlords spend on property management. In the North West of England, landlords spend 10 hours a week on average compared to just five and a half hours in South East England.

These findings could have influence over the plans to stop landlords in Jersey from discriminating against families with children as put forward by Reform Jersey. Reform Jersey politicians aim to seek a ban on age-based rent discrimination which has led to a lack of accommodation for families in Jersey.

Jeff O'Boyle of Bedell Cristin, a law firm with expertise in the Channel Islands, residing on the property team reports:

“Landlords and letting agents should follow this story very carefully because the proposed change in the law would be a game-changer for the rental market. If the States decide that tenants with children are being discriminated against, landlords will need to set out clear, justifiable grounds when refusing to let property to tenants with children. Any hint of ambiguity in their reasoning may be challengeable on the grounds of discrimination."

This also echoes heightened concerns raised surrounding the affordability of housing for families as new figures suggest the average family in jersey is unable to afford the mortgage on a two-bedroom house. You can read more about this from the Jersey Evening Post here.

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