Leicester Tenant Overview In the last decade, tenants are moving from their properties more often whereas traditionally tenants would have stayed and settled in their properties for years on end and this may be because of a culture that people did not like to change and in today’s the society we are well adapted to change and less committed to one particular home.
The choice of a tenant’s home location is usually due to work employment or local school education if there are children in the family. Online platforms have made it easier to change job roles and therefore it has been seen that companies have a higher turnover than the previous decade this has an effect on on the property a market where there is a shorter tenancy time period.
Letting Agent Psychology
The letting agents have interest that good tenants remain in the property as the home is well looked after the income is stable and the the relationship is well developed the landlord is also happy because there are no void period and regular income is coming and no issues of mortgages and expenses being paid there is a common saying in the Recruitment industry that it is is far more cost-effective to spend a little more and make the correct higher hire than having to change or fire individuals because there is an expense of training.
More recently Leicester letting agents have been put under pressure because of a tenancy fee can no longer be taken from a tenant by letting agents for their administration usually in the past this would have cost £250 however, letting agents are still charging landlords for a tenancy find it has been seen that Leicester High Street letting agents have closed down because of the change of regulation for estate agents of charging tenant a fee it is supported the industry to innovate and reduce unnecessary costs.
Property market influence
Overall the market has become a buyers or renters market as they have leverage and more consumer rights than in previous years evictions and finds of late payments have become far more difficult so it is important for your letting agents to find the best tenants for you that is right the first time.
Coletting has reduced costs from agent wastage and being for more effective on social media to build a relationship with our tenants and landlords