Insight For Landlords And Renters: Your Not Alone
Landlords and renters have varying outlooks on some very important issues in regards to the real estate property that is on the market to be rented. A study gathered numerous landlords and renters as they were asked a number of questions. Let’s take a further look into the insights for landlords and renters.
What Renters Want
If you’re a landlord and you’re looking for insight about renters look no further. Renters typically look for an apartment with nice features and nearby amenities. A newly renovated large pet friendly place is definitely at the top of most renters must-have list. Renters also seek amenities including off-street parking and on-site laundry. Close proximity especially within walking distance to nightlife and restaurants is an added plus.
Do you worry about your renters breaking their lease? Most renters don’t break their lease. In fact, 85% of renters don’t. On the other hand, about 15% of renters actually do break their lease due to work related commitments.
What Landlords Should Think About
Landlords should create a pet-friendly environment as renters believe the “No pets allowed” rule is not only very annoying but also a major deal breaker.
By taking a look at the top five things renters hate about their apartment landlords will be able to make changes accordingly. A majority of renters complain about poor management in relation to slow repairs. At times renters say it is impossible to even reach management to inform them of an actual repair. The lack of certain amenities such as no dishwasher, no closet space, and no laundry are substantial turnoffs. Renters also dislike living near neighbors that smoke or make too much racket. Apartments that are too costly and have poor insulation are also bad because it will lead to higher utility bills, which is definitely a waste of money from a renter’s standpoint.
The Perspective of a Landlord
Now let’s examine insight from a landlord’s perspective that will inevitably help out renters in the long haul. There are numerous important questions that renters forget to ask their landlord. As a renter, you should know the process for getting things repairs, if you could go month to month, and are utilities included. If you don’t know the answer to these basic questions make sure you ask the landlord prior to renting.
If you get evicted more than likely it’s because you didn’t pay your rent. In fact, 37% of landlords stated they evicted a tenant all of which failed to pay their rent. Landlords generally receive complaints because something is broken or doesn’t work, the price is too high, and there’s mold or bugs so don’t feel like you’re alone.
Most landlords lease an apartment for 1 year as tenants may do a month to month lease after their year is over while other landlords will only lease for another year thereafter. Very few landlords actually go by a month to month lease.