Landlord relationships top factor for tenant retention
Original Article Summary
New research from estate agency group LRG reveals that 68% of renters cite relationships with landlords and letting agents as the most important factor in deciding whether to remain in their property long-term. The findings come as the sector prepares for the introduction of periodic tenancies under the Renters' Rights Act. The post Landlord relationships top factor for tenant retention appeared first on PropertyWire.
PropMatch Curated Analysis
Research shows 68% of tenants prioritize landlord relationships as the key factor for staying long-term, aligning with 72% of landlords who prefer indefinite tenancies. This trend toward longer tenancies is reinforced by limited housing supply and upcoming regulatory changes under the Renters' Rights Act.
Investor Relevance
Demonstrates that investing in tenant relationships and property management quality can significantly reduce void periods and turnover costs. With periodic tenancies becoming default under new legislation, landlords who focus on retention will achieve better financial performance through stable rental income and reduced letting costs.
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