New research has revealed the struggles some landlords face with the demands placed on them by their tenants. A third of landlords found the full time nature of the role significantly more stressful that they initially thought it would be. The survey also revealed that 76% of landlords say their tenants don’t understand their responsibilities and 10% of landlords develop anxiety issues due to their tenant’s behavior. In addition, the complex and ever changing regulations mean 43% of landlords are unclear of what their current responsibilities and obligations are. The research further reveals that some tenants are causing such severe problems for landlords that a quarter have had to serve notice with the main reasons cited being rent arrears, damage to the property and inappropriate behavior.
Jake Willis, founder of London Shared who carried out the survey said “The role of the landlord can be a full time job but 81% of landlords are juggling a second job to make ends meet. Many property owners do not realise the amount of money, time and care required to be a landlord. For those looking for a more hands-off approach we recommend using property managers who can become the day to day point of contact for your tenants and in turn alleviate some of the stress and responsibility placed on landlords.”