Top Priorities for Landlords: Expert Guidance, Stress-Free Letting, and Financial Security
Posted on Tuesday, 27 August, 2024
The recent survey conducted by Rightmove among over 1,600 active landlords highlights the key concerns and priorities of landlords in the current market. Here are the top three things that landlords want from a letting agent based on the survey:
1. Guidance on Legislation and Reassurance on Compliance
- 48% of landlords who use letting agents do so primarily for guidance on regulation and legislation.
- 61% of landlords are concerned about the abolition of Section 21, which currently allows them to evict tenants without a reason.
- 50% of landlords worry about potential fines and charges for failing to meet green improvement standards.
2. Making Property Letting Easier
- 63% of landlords use a letting agent to manage their properties to reduce hassle and stress.
- 34% of landlords value the additional services provided by agents that make renting easier.
- 25% of landlords prefer using an agent because they lack the time to manage their property themselves.
3. Guaranteed Rental Income and Higher Calibre Tenants
- 30% of landlords not currently using an agent would consider doing so if guaranteed rental income was provided.
- 25% of landlords not currently using an agent would do so if they could secure higher calibre tenants through the agent.
These insights highlight the growing importance of expert guidance, stress reduction, and financial security for landlords in the evolving property market.
1. Rightmove Landlord Survey, July 2024. Sample of 1,612 active landlords for UK residential properties.2. Street Data from January 2024 to April 2024 based on a sample of tenancies comparing Rightmove with the next largest portal. 3. SimilarWeb (desktop only) audience comparing Rightmove, Zoopla, OnTheMarket, PrimeLocation and OpenRent, April 2023 to June 2024. 3. References completed by Rightmove Landlord and Tenant Services, May 2023 to April 2024.
