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Nicky Stevenson Property Academy: Information & Insight
LANDLORDS & TENANTS SURVEY 2014 2,951 Landlord Responses 5,026 Tenant Responses
83%
of landlords said they would leave due to bad customer service
93%
of landlords said that reputation and recommendation were important or essential when choosing an agent
www.propertyacademy.co.uk
How would you rate the service you received from the Property Management Department?
Excellent
Good
Satisfactory
Not Great
Poor
Total
Speed & Efficiency
34%
38%
18%
6%
4%
28%
Helpfulness
38%
36%
18%
5%
4%
26%
Availability
33%
40%
19%
4%
3%
27%
Personal Service
36%
35%
19%
6%
4%
30%
Knowledge
36%
36%
20%
5%
3%
28%
Communication
32%
35%
20%
8%
6%
33%
Problem Solving
30%
35%
20%
9%
6%
35%
Politeness & Manners
44%
35%
16%
2%
2%
20%
www.propertyacademy.co.uk
How would you rate the service you received from the Property Management Department?
Excellent
Good
Satisfactory
Not Great
Poor
Total
Speed & Efficiency
34%
38%
18%
6%
4%
28%
Helpfulness
38%
36%
18%
5%
4%
26%
Availability
33%
40%
19%
4%
3%
27%
Personal Service
36%
35%
19%
6%
4%
30%
Knowledge
36%
36%
20%
5%
3%
28%
Communication
32%
35%
20%
8%
6%
33%
Problem Solving
30%
35%
20%
9%
6%
35%
Politeness & Manners
44%
35%
16%
2%
2%
20%
www.propertyacademy.co.uk
Did you purchase your property with a view to renting it out?
42% 58%
Yes No www.propertyacademy.co.uk
Did you purchase your property with a view to renting it out?
NO
YES
80%
43%
Just one property in their portfolio
3 or more properties in their portfolio
www.propertyacademy.co.uk
Did you read the literature provided by the agents you invited to value your rental property?
Intentional Landlords
11%
13%
87%
89%
Yes
Yes
No
No www.propertyacademy.co.uk
What is your current primary concern as a Landlord?
Average 10% 20%
Rent Arrears Property Damage
37%
32%
Void Periods Other
www.propertyacademy.co.uk
What is your current primary concern as a Landlord? Yes I purchased intending to let
No I did not purchase intending to let 10%
11%
18%
22% 32% 42%
25%
40%
Rent Arrears
Rent Arrears
Property Damage
Property Damage
Void Periods
Void Periods
Other
Other
www.propertyacademy.co.uk
Intentional Landlords
Non-Intentional Landlords www.propertyacademy.co.uk
14% in debt enquiries from last year
www.propertyacademy.co.uk
If your existing tenant has paid on time, looked after the property and now wished to renew for another 12 months at the same rent but no more, and your agent had a new tenant who would pay more would you take the new tenant if they were offering a...
5% Increase
4%
10% Increase
11%
15% Increase
7%
20% Increase
10%
No I would stick with the existing tenant
68%
Nearly
7 out of 10 landlords would stick
www.propertyacademy.co.uk
How would you rate the service you received?
Speed & Efficiency
Helpfulness
Availability
Personal Service
Knowledge
Communication
Problem Solving
Politeness & Manners
Excellent
Good
Satisfactory
Not Great
Poor
41%
36%
15%
4%
3%
29%
40%
20%
7%
5%
45%
34%
14%
4%
2%
31%
38%
20%
7%
5%
39%
39%
17%
3%
2%
28%
41%
21%
5%
4%
44%
32%
17%
5%
2%
29%
37%
21%
8%
6%
43%
35%
17%
3%
2%
30%
37%
23%
6%
4%
38%
35%
17%
6%
4%
28%
35%
22%
9%
7%
36%
36%
18%
7%
4%
25%
35%
22%
11%
7%
50%
33%
14%
2%
1%
39%
38%
18%
2%
3%
Intentional Landlords Non-Intentional Landlords
How would you rate the service you received?
Speed & Efficiency
Helpfulness
Availability
Personal Service
Knowledge
Communication
Problem Solving
Politeness & Manners
Excellent
Good
Satisfactory
Not Great
Poor
41%
36%
15%
4%
3%
29%
40%
20%
7%
5%
45%
34%
14%
4%
2%
31%
38%
20%
7%
5%
39%
39%
17%
3%
2%
28%
41%
21%
5%
4%
44%
32%
17%
5%
2%
29%
37%
21%
8%
6%
43%
35%
17%
3%
2%
30%
37%
23%
6%
4%
38%
35%
17%
6%
4%
28%
35%
22%
9%
7%
36%
36%
18%
7%
4%
25%
35%
22%
11%
7%
50%
33%
14%
2%
1%
39%
38%
18%
2%
3%
Intentional Landlords Non-Intentional Landlords
Are you renting out of choice or necessity?
41% 59%
Nearly
6 out of 10 tenants have no choice but to rent
I chose to rent I had no choice but to rent www.propertyacademy.co.uk
How would you rate the property management service you received from your landlord or letting agent?
Excellent
Good
Satisfactory
Not Great
Poor
Total
Speed & Efficiency
27%
29%
20%
11%
13%
44%
Helpfulness
30%
29%
20%
9%
11%
41%
Availability
27%
31%
22%
9%
11%
42%
Personal Service
29%
28%
22%
10%
12%
43%
Knowledge
27%
30%
22%
10%
11%
43%
Communication
28%
27%
21%
10%
13%
45%
Problem Solving
26%
26%
20%
12%
16%
48%
Politeness & Manners
38%
31%
18%
5%
8%
31%
www.propertyacademy.co.uk
How would you rate the property management service you received from your landlord or letting agent?
Excellent
Good
Satisfactory
Not Great
Poor
Total
Speed & Efficiency
27%
29%
20%
11%
13%
44%
Helpfulness
30%
29%
20%
9%
11%
41%
Availability
27%
31%
22%
9%
11%
42%
Personal Service
29%
28%
22%
10%
12%
43%
Knowledge
27%
30%
22%
10%
11%
43%
Communication
28%
27%
21%
10%
13%
45%
Problem Solving
26%
26%
20%
12%
16%
48%
Politeness & Manners
38%
31%
18%
5%
8%
31%
www.propertyacademy.co.uk
How would you rate the Property Management service you receive from your Landlord or Letting Agent?
Speed & Efficiency
Helpfulness
Availability
Personal Service
Knowledge
Communication
Problem Solving
Politeness & Manners
Excellent
Good
Satisfactory
Not Great
Poor
34%
33%
17%
10%
6%
27%
26%
20%
12%
15%
39%
31%
15%
9%
6%
29%
27%
20%
11%
13%
33%
32%
19%
8%
7%
27%
27%
23%
10%
13%
38%
26%
21%
9%
5%
28%
26%
21%
11%
13%
36%
29%
20%
10%
6%
25%
30%
22%
10%
13%
36%
25%
23%
9%
7%
28%
24%
21%
11%
16%
33%
25%
19%
13%
10%
25%
24%
20%
13%
18%
43%
35%
15%
4%
3%
37%
29%
17%
6%
10%
Over 60’s 29 or Less
How would you rate the Property Management service you receive from your Landlord or Letting Agent?
Speed & Efficiency
Helpfulness
Availability
Personal Service
Knowledge
Communication
Problem Solving
Politeness & Manners
Excellent
Good
Satisfactory
Not Great
Poor
34%
33%
17%
10%
6%
27%
26%
20%
12%
15%
39%
31%
15%
9%
6%
29%
27%
20%
11%
13%
33%
32%
19%
8%
7%
27%
27%
23%
10%
13%
38%
26%
21%
9%
5%
28%
26%
21%
11%
13%
36%
29%
20%
10%
6%
25%
30%
22%
10%
13%
36%
25%
23%
9%
7%
28%
24%
21%
11%
16%
33%
25%
19%
13%
10%
25%
24%
20%
13%
18%
43%
35%
15%
4%
3%
37%
29%
17%
6%
10%
Over 60’s 29 or Less
Did you take out tenant content insurance?
Average
Over 60’s
29 or Less
29%
41% 59%
50% 71%
Yes No www.propertyacademy.co.uk
50%
69% of tenants do not have contents insurance
www.propertyacademy.co.uk
Are you happy with the condition of your current property?
1 in 4 tenants
25%
75%
are not happy with the condition of their property
Yes No www.propertyacademy.co.uk
Do you think the fees you were charged were fair for the service you received?
22%
Average
21%
38% 62%
57%
43% 79%
Yes
Yes
Yes
No
No
No
www.propertyacademy.co.uk
Do you intend to stay in the property and renew your tenancy agreement when it expires?’
Average
22%
31% 69%
39% 78%
61%
Yes
Yes
Yes
No
No
No
www.propertyacademy.co.uk
Based on your experience to date, would you recommend your letting agent to a friend?
Average
21%
32% 68%
35% 79%
65%
Yes
Yes
Yes
No
No
No
www.propertyacademy.co.uk
If in the future you need to sell or let a property you own, would you instruct your current letting agent to act on your behalf?
Average
47%
53%
25%
38% 62%
75%
Yes
Yes
Yes
No
No
No
www.propertyacademy.co.uk
How would you rate the property management service you receive from your landlord or letting agent?
Speed & Efficiency
Helpfulness
Availability
Personal Service
Knowledge
Communication
Problem Solving
Politeness & Manners
Excellent
Good
Satisfactory
Not Great
Poor
Total
34%
34%
19%
8%
5%
32%
7%
14%
22%
21%
36%
79%
38%
34%
19%
6%
4%
29%
9%
16%
24%
19%
32%
75%
34%
35%
20%
6%
5%
31%
8%
18%
28%
18%
29%
75%
36%
32%
21%
6%
5%
32%
8%
16%
24%
20%
32%
76%
34%
35%
21%
6%
4%
31%
7%
16%
26%
21%
30%
77%
35%
31%
20%
8%
5%
33%
8%
14%
24%
19%
36%
78%
33%
31%
21%
9%
6%
36%
6%
12%
18%
23%
43%
83%
45%
33%
15%
3%
3%
22%
16%
26%
27%
12%
20%
58%
Are you happy with the condition of your home? Yes Responses No Responses
How would you rate the property management service you receive from your landlord or letting agent?
Speed & Efficiency
Helpfulness
Availability
Personal Service
Knowledge
Communication
Problem Solving
Politeness & Manners
Excellent
Good
Satisfactory
Not Great
Poor
Total
34%
34%
19%
8%
5%
32%
7%
14%
22%
21%
36%
79%
38%
34%
19%
6%
4%
29%
9%
16%
24%
19%
32%
75%
34%
35%
20%
6%
5%
31%
8%
18%
28%
18%
29%
75%
36%
32%
21%
6%
5%
32%
8%
16%
24%
20%
32%
76%
34%
35%
21%
6%
4%
31%
7%
16%
26%
21%
30%
77%
35%
31%
20%
8%
5%
33%
8%
14%
24%
19%
36%
78%
33%
31%
21%
9%
6%
36%
6%
12%
18%
23%
43%
83%
45%
33%
15%
3%
3%
22%
16%
26%
27%
12%
20%
58%
Are you happy with the condition of your home? Yes Responses No Responses
Key Points • Importance of customer service, treating every customer as four-dimensional • Poor condition properties are having a devastating effect on your brand • Problem solving & communication is the biggest issue with service for both Landlords and Tenants • 7 out of 10 landlords would rather stick with a tenant that they trust over a new tenant at a higher rent.
www.propertyacademy.co.uk
LANDLORDS & TENANTS SURVEY 2014 propertyacademy.co.uk
Sponsored by
60 Minutes
www.propertyacademy.co.uk
Landlord
Tenant www.propertyacademy.co.uk
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Is this your 1st, 2nd or 3rd purchase in the area?
43%
intentional landlords have three or more properties in their portfolio www.propertyacademy.co.uk
Personal Property Manager
www.propertyacademy.co.uk
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“I asked EJ if he could come in to our office to show the team the inner workings of a boiler as most property managers spend their time listening to contractors discuss PC board, diverter valves without any idea of how the inside of a boiler works, what each part does and if one part were to fail that another part would likely follow. The session EJ planned was very informative and very beneficial and I would suggest you do these with my team on a regular basis even looking at electrics.� Caroline Ormonde, Knight Frank, Head of Property Management.
www.propertyacademy.co.uk
www.propertyacademy.co.uk
24 - 7 - 28 www.propertyacademy.co.uk
10 before 10 10 calls x 40 weeks = 400 calls per year 400 calls / 4 = 100 landlords www.propertyacademy.co.uk
Key Points • Systems should be running your business and your people running the systems • Make the overall experience a positive and memorable one.
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