What do tenants
want when it comes to Property Reporting?
When planning ‘who does what’ in your team, what drives your decision?
Is it based solely on
costs? How much do you take tenant preference into account?
As competition to attract the best tenants increases and more companies claim to be tenant-centric; how does this credo manifest itself in practical day-to-day decision making? If putting the tenant first is in your DNA, then you need to read the results of a simple survey Letcheck have been conducting for the last 12 months.
the options of who should conduct your property inspections, the decision
makers are, very often, not the people who have ever carried out inventory work. They are inclined to have an overly
simplified idea of what is involved and the time it takes to generate a report,
a legally binding document that gives you the protection you believe you are
To illustrate the
point on oversimplification, 2 years ago we took on a lettings manager with
over 10 years’ experience who, whilst on a career sabbatical, decided to work
with us. She completed all the training
but lasted just 1 day on the road before waving the white flag, confessing it
completely opened her eyes to the level of detail required, she is now back
letting properties and is a loyal client as a result.
There are other
assumptions that need to be unearthed, such as the idea that you will save
costs by employing a resource internally- this is a fair argument in the low
season when you need to justify your fixed costs 12 months a year, however is
this the key value adding task you want your team to be doing in high season,
when your focus is more likely to be on ensuring minimal void periods and
managing the new batch of tenants so they feel taken care of?
also needs to be given to the lifecycle cost of a tenancy. As much focus on upfront costs needs to be
given to the costs when a tenant vacates.
Ensuring whomever conducts your check-out inspection is adhering to
up-to-date industry standards, will protect you from time consuming disputes. The
plea of ‘don’t shoot the messenger’ is a powerful way to protect your company from negative feedback.
And what, lest we forget, do tenants want? So we have been asking them for over 12 months and the results are below:
So, if your company strategy guides your decisions, and your strategy values the importance of listening to tenants, this is something to consider.
Letcheck carry out property reporting that includes a comprehensive walk through so your tenants feel completely comfortable in their new home with the added assurance in our independent role at the beginning and end of the tenancy.