The letting industry needs to do more to reduce moving stress for tenants and landlords by increasing awareness of some of the potential pitfalls, according to Tenant Shop.
The provider of products and services for both letting agents and tenants notes there is a lot of advice for home buyers and sellers about how to deal with the moving process, but relatively little in comparison for landlords and tenants in the private rental sector.
Glenn Seddington, managing director of Tenant Shop, “Considering the rapid growth of the PRS - which now accounts for approximately 20% of all households and represents the largest housing tenure in London - more needs to be done to make the moving process smoother for landlords and tenants.
“It’s also crucial that advice and guidance is readily available for these stakeholders as the PRS becomes more widely regulated and the lettings process is subsequently more complex.”
The Tenant Shop wants to see more measures and initiatives introduced in the buy-to-let market, in order to help provide landlords with valuable insights, enabling them to better understand how key legislation such as the Tenant Fees Act, deposit protection and the Right to Rent scheme work in order to stay on the right side of the law and protect their investment.
The company also points out that it is equally as important for tenants to be fully aware of their rights and obligations when it comes to renting a property and have the ability to showcase their value as a good tenant to a potential landlord.
Seddington continued: “If both sides of the transaction are aware of what is required of them from the outset, this can help to make things run more smoothly and speed up the moving process.
“Landlords will also want to make sure that as a new tenancy starts, the previous one is tied up and signed off, paving the way for a smooth changeover with no unpaid bills or charges outstanding.”
A lack of understanding and awareness is one of the key drivers of stress among landlords and renters during tenancy changeovers, according to Seddington.
He added: “As the rental process becomes more professional, letting agents need to be on hand to provide consumers with the guidance and advice they need to feel at ease during the moving process.
“Providing a first-class customer service has always been a vital part of maintaining long-term relationships with landlords, while impressive customer relations will not go unnoticed with tenants, who could go on to become future sellers or landlords.”