You have a property and are ready to rent it; what next? If you’re not careful, renting a property can be a stressful investment with several pitfalls. This blog will take a look at some of the more common problems landlords face and how Mortoo Homes can help you avoid it all.
A recent PropertyLetByUs.com study found that 67% of landlords are more stressed than they were a year ago, with 25% of them finding the experience of renting to be more stressful.
This stress has a negative impact on your life. The same study showed 53% of landlords spent 10% of their annual leave dealing with tenant-related issues and that 46% spent 20 or more hours a year negotiating with agents or tenants on the telephone.
Landlord stress is on the rise, with over seven million properties set to be rented by 2025.
We’ve all heard the horror stories – difficult tenants refusing to vacate the property, rubbish left all over, etc. It’s enough to put anyone off, but with such as high demand for rental properties, many take the leap and rent out their homes.
By handing over the reins to Mortoo Homes, we’ll make sure you don’t have to worry about any of these issues. We’ll take care of your property, giving you time for that much-needed vacation.
Let’s take a look at some of the most common stresses many landlords face.
Finding Tenants
Finding a suitable tenant is a lengthy process. There’s plenty of paperwork, as well as the risk of renting out your property to a complete stranger.
With Mortoo Homes, we’ll take care of this stress for you by making sure the person moving into your property checks out, and we will make sure that they continue to look after the property long after the contract has been signed.
Rent arrears
Late payments are fairly common and are the leading cause of stress in landlords. A recent study done on UK landlords revealed that 87% of landlords report this issue as a major pain point. Evicting a tenant is expensive, adding to the pressure should the rent come in late each month.
With Mortoo Homes, we’ll make sure you receive what is rightfully yours each month. Our rent guarantee assurance will help you avoid all of this stress.
Difficult tenants
Unreasonable or unruly tenants are another major cause of stress for landlords. It can be extremely frustrating and worrying whether you’re dealing with people who refuse to take responsibility or communicate with you. Problem tenants are one of the main causes of stress in landlords, with most fractured relationships ending with some sort of legal intervention.
When enlisting the help of Mortoo homes, we’ll make sure the tenant chosen for the property is trustworthy and the perfect fit.
Property repairs
The same PropertyLetByUs.com study relieved that 40% of those answering the questions have had to pay for damages done to the property due and that it has been a major cause of conflict between them and their tenants. With older properties, the wear and tear can increase gradually, increasing the amount o money needed to repair and maintain the property.
By choosing Mortoo Homes, landlords can sit back and relax while we do all the hard work. You can find out more about how Mortoo Homes will help you by clicking here.