Landlords urged to foster tenant relationships to attract and retain renters

Landlords urged to foster tenant relationships to attract and retain renters

0:02 AM, 9th December 2024, About a month ago 8

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Even though 74% of tenants are keen to own their own home, a new report highlights what landlords can do to attract and retain tenants.

The Bricks to Belonging report by the OSB Group reveals that tenants are increasingly prioritising strong relationships with their landlords as they must rent for longer.

In addition, tenants want the ability to personalise their living spaces, and a sense of control over their environment.

Affordability remains a challenge

OSB’s chief sustainability officer, Neil Richardson, said: “Affordability remains a significant challenge for many Brits, and as a result, more of us are renting for longer.

“For landlords, this is both an opportunity and a challenge, as they seek to find the best tenants in a shifting market.”

He added: “To create a thriving private rented sector, it’s key that we think and act beyond the headlines to support landlords in providing homes for tenants.”

What landlords need to appreciate

The research identified three core psychological drivers that landlords need to appreciate, and they are:

  • Strong landlord-tenant relationships: A positive relationship with a landlord is crucial for tenant satisfaction. Negative relationships can be a primary driver for tenants to seek homeownership
  • Personalisation: Tenants value the ability to express their personal identity through their living spaces
  • Control: While homeowners and renters may experience similar levels of satisfaction, the need for control is a significant psychological factor driving renters out of the rental sector.

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Ryan Stevens

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11:32 AM, 9th December 2024, About a month ago

"74% of tenants are keen to own their own home"

I assume they are waiting for the RRB to pass, then they will effectively own their own home, without having all the problems of home ownership!!

Paul Essex

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13:01 PM, 9th December 2024, About a month ago

I wasn't planning on adopting the tenants.

northern landlord

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16:36 PM, 9th December 2024, About a month ago

A Strange article
Strong landlord-tenant relationships : So, negative relationships [with landlords] can be a primary driver for tenants to seek homeownership? Surely, any tenant who could afford to buy their own place is not going to stay renting just because the landlord is their pal?
Personalisation: Tenants value the ability to express their personal identity through their living spaces. I am sure most of us have been left with walls gloss painted black or purple and other attempts at โ€œpersonalisationโ€ by tenants?
Control: While homeowners and renters may experience similar levels of satisfaction, the need for control is a significant psychological factor driving renters out of the rental sector- If they in fact are being driven out and canโ€™t afford to buy, where are they all going?
Unfortunately, with the Government moving to choke off PRS supply, landlords donโ€™t have to try too hard to attract tenants, having a vacant property is enough in most cases. Tenants can leave whenever they want, but if they have been in for a year or more they are most likely paying below market rent so retention is not a problem either.

Cider Drinker

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17:01 PM, 9th December 2024, About a month ago

May I suggest an edit to this article?

๐“๐ž๐ง๐š๐ง๐ญ๐ฌ ๐ฎ๐ซ๐ ๐ž๐ ๐ญ๐จ ๐Ÿ๐จ๐ฌ๐ญ๐ž๐ซ ๐ฅ๐š๐ง๐๐ฅ๐จ๐ซ๐ ๐ซ๐ž๐ฅ๐š๐ญ๐ข๐จ๐ง๐ฌ๐ก๐ข๐ฉ๐ฌ ๐ญ๐จ ๐ซ๐ž๐ญ๐š๐ข๐ง ๐ญ๐ก๐ž๐ข๐ซ ๐ก๐จ๐ฆ๐ž๐ฌ ๐š๐ง๐ ๐ค๐ž๐ž๐ฉ ๐ซ๐ž๐ง๐ญ๐ฌ ๐š๐Ÿ๐Ÿ๐จ๐ซ๐๐š๐›๐ฅ๐ž

I donโ€™t care if my tenants leave. I donโ€™t care if I lose ยฃ6k per year in rent as Iโ€™d have ยฃ100k invested elsewhere. Without the hassle of tenants and without interference from successive, incompetent governments and Local Authorities that are run by people that are too scared (or incompetent) to get a proper job.

Godfrey Jones

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11:56 AM, 10th December 2024, About 4 weeks ago

I've finally got rid of my Tenants this weekend. A lovely 3 bed semi, newly decorated in perfect condition with double garage and conservatory which has provided a home for several families over the years.
Now I'd rather the house stand empty than get caught up in what this Gov propose with RRB. Who in their right mind would let their property to complete strangers when you don't know if and when you'll get it back? So well done Generation Rent, Shelter et al. You've just made another lovely family move house and pay an additional ยฃ500 per month in rent when there was a perfectly adequate house here near to all amenities and good schools if you'd have just stopped your stupidity and allowed good Landlords like myself to do what we do best at below market rates!!!!

Ryan Stevens

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11:59 AM, 10th December 2024, About 4 weeks ago

Someone should collate these comments and send to Shelter/Generation Rent, etc!

Fed Up Landlord

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14:26 PM, 10th December 2024, About 4 weeks ago

Shelter, Gen Rant, Acorn et al are not bothered about rents or landlord tenant relationships. All they are bothered about is Marxist ideology and the destruction and extermination of the landlord class. So blinded are they by this dogma that they cannot see that less landlords means less homes to rent at higher cost. They are sacrificing tenants on the altar of political change.

John Gelmini

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14:42 PM, 10th December 2024, About 4 weeks ago

Like most people I choose my relationships on my own terms bearing in mind the admonishing of Lord Rothschild to " make no useless acquaintances".
People fall into 2 categories,those that consume more than they produce and those that produce more than they consume.
Then there are those who create more trouble than the return that can be obtained from them.
Most tenants now fall into the " too troublesome" category making physical gold ,informed cryptocurrency mining and Whiskey ,better investments.
There may also be a future in cardboard boxes to house the growing number of homeless and video doorbells and security cameras to protect against rising crime caused by government induced worklessness.

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