3 Housing Problems That Landlords Face During Tenancy

Dealing with countless responsibilities at one time is part and parcel of being a landlord.

You’re aware that things can go south at any time–like financial problems or lawsuits if you don’t take care of those seemingly insignificant responsibilities.

It’s an occupational hazard of being a landlord that your tenants will often bring you grief, but you’ll need to be able to pre-empt these concerns to avoid hassles later down the line. Ahead we’ve rounded up a list of common problems that you might face as a landlord and ways to handle them.

High Turnover

A high turnover rate can be devastating for your cash inflow. After a tenant leaves, you’re required to advertise for your property again, conduct background checks on prospective tenants, and manage loads of paperwork before they move in.

Additionally, the loss of income in the meanwhile can be devastating for your cash flows and the longer it takes for you to find a new tenant, the more revenue you lose.

To reduce your tenant turnover rate, you could do the following:

• Tenants don’t like reactive and aggressive landlords. Stay proactive and keep your tenants satisfied by listening to their requests and concerns.
• Make sure you offer market competitive rents and your property’s value and keep the rent’s breakdown transparent for your tenants.
• Don’t leave the property at the mercy of the tenants. Make sure it stays in good shape all the time with regular repairs and maintenance.

Delayed Payments

Having tenants are consistently late with rent is very stressful. Here’s how you can ensure consistent and timely rent collections.

• Create a document with the rules of rent collection and make it compulsory for your tenants to abide by it.
• Keep following up and reminding them, no matter how embarrassing it might feel.
• Screen prospective tenants carefully to pick those who are likely to stay for longer and pay the monthly rent on time.

Legal Problems

It may be overwhelming to learn all the laws about the landlords and tenants, but it’s critical that you read up and avoid potential legal issues. Before you put your property on the market, you need to learn about their legal rights and your rights as a landlord.

Also, be aware of the local laws for private renting—regulations may vary from one city to another.

Renting a private or commercial property requires a long-term understanding of both parties. If you’re in dispute with your tenant, get in touch with Wembley Solicitors. We dissolve landlord and tenant disputes in the UK and work out all the legal problems with professional support and legal assistance.

Connect with one of our solicitors now for expert advice on 020 3417 3700.