Landlords urged to prioritise reliable tenants
The tenant eviction and rent recovery service warned it is difficult to predict how rental markets will perform in the New Year, with more people moving to mortgages.
Graham Kinnear, Landlord Assist managing director, said: “Landlords should focus their efforts on finding the right tenants rather than risk void periods and the possibility of arrears by pricing themselves out of the reach of new tenants.
“We fully expect a growing number of tenants and first-time buyers to try and make the step on to the housing ladder. This could lead to a greater choice of properties to rent in parts of the country, and more competition between landlords for the best tenants.”
Kinnear argued people are more likely to agree longer tenancy agreements providing prices are kept at a reasonable level.
Stephen Parry, commercial director at Landlord Assist, added: “Normally when the sales market picks up it has an impact on the rental market, however this year we don’t expect that to happen.
“This situation, although rare, goes some way to highlighting the severe lack of quality and affordable housing stock across the UK.”