A recent survey has discovered that damage to property is the biggest problem that landlords face.
52 per cent stung by tenants’ damage
Over half of the landlords polled said that property damage was the biggest problem that tenants cause, which is hardly surprising given that property damage costs UK landlords over £5 billion each year.
- Here’s what your tenants could be keeping from you
- Renting to students: what landlords need to know
- Find out more about landlord insurance
Landlords also struggle with theft, subletting and unpaid rent
While most agreed that damage caused by tenants was the biggest nuisance, 32 per cent felt that unpaid rent was the most difficult part of dealing with tenants. Unpaid rent doesn’t cost landlords as much but still comes to an incredible £900 million each year.
Subletting and theft appear to be less of an issue, with 12 per cent saying subletting was their biggest concern and only 4 per cent saying it was theft or unauthorised disposal of contents.
How to protect yourself
It’s a good idea to conduct thorough checks on anyone who’s interested in moving into your property.
Right to rent checks are a legal requirement, but credit checks and personal references will also help make sure you don’t end up with problem tenants.
And should the worst come to the worst, having the right type of landlord insurance in place will help cover the costs.
Have you had any nightmare tenants? Was property damage the main problem, or something else? Let us know in the comments