With more and more people settling into longer term rental agreements in response to the changes in the housing market, it is beginning to make more and more sense for landlords to let tenants carry out work on properties, indeed it could benefit both tenant and landlord in the long term.
Long term tenants who are clearly committed to living in a property want a high standard of décor and want where they live to feel like home. It is no wonder that many more in the private rented sector in the UK are increasingly keen to personalise where they live, even if they do not own these properties. Landlords should help facilitate this trend suggests a new report. The Association of Independent Inventory Clerks (AIIC) believes that landlords should be more open-minded to tenants’ requests to make home improvements and they could benefit in the long term.
According to the research, which included a survey of over 2,000 renters, some 23% of participants said they have spent over £500 on home improvements in their rental property. Patricia Barber, chair of the AIIC said, ‘It’s clear that tenants are increasingly willing to spend their own money on improving their rental property and this is certainly something landlords should think about.’ ‘Landlords who cautiously allow tenants to put their own stamp on a property could benefit from a lower turnover of tenants and an improved and well maintained property at the end of the contract,’ she pointed out.
It might be worth noting that with tenants undertaking improvements it might be even more important to protect both sides to undertake an independently compiled inventory to help clarify what changes are acceptable and to monitor what has been done.