What does the ideal Nottingham tenant
look like?”, asked one of my landlords from Mapperley the other day, to which
he carried on before I could reply, “Let me guess, a professional couple, both
in their 30’s, flawlessly tidy, pays their rent early, doesn’t complain or
fuss, who has no plans to move and cheerfully accepts annual rent rises”.
Before I can answer that question
properly, I have always believed all a landlord wants (and expects) of their
tenants is to pay their rent on time and look after the property as if it were
their own. In return, the landlord should provide a property that is warm,
clean, modern and damp free and sort any issues (such as repairs) quickly and
without fuss.
Back to the tenants who tend to fall
into several groups ... 20 something professionals; young and middle aged
families; corporate tenants (ie their employer finds their employee a house to
live in); students; older singles / couples; and housing benefit claimants -
and they all come with different needs and wants. So choosing who best suits
your Nottingham property and steering clear of bad tenants is a big factor in
making property investment a success.
One topic that I am often asked is
should they, as a landlord, accept tenants on housing benefit? It might
interest the landlords of Nottingham that of the 27,300 private rented
properties in the local council area, 39.6% of the tenants of those properties
are on some form of housing benefit. (10,811 properties to be exact). I know
many landlords have suffered late rent payments with tenants on housing
benefits, especially since 2008, when local authorities started paying housing
benefit to tenants rather than directly to the landlords, but you can’t ignore
the fact that housing benefit tenants make up a significant proportion of the
Nottingham rental population. My opinion is that the final choice of accepting
such tenants has to be the landlords but you can’t tar every tenant with the
same brush (I will always give you a balanced opinion if ever asked).
Interestingly, it might surprise some
readers of the Property articles, when we compare Nottingham to the national
picture, Nottingham’s Housing benefit claimants are higher, as nationally a
lower proportion of private tenants claim the benefit. Nationally, 39.2% of the
tenants of the 3,891,467 rental properties in Great Britain claim some form of
housing benefit (ie 1,526,915 properties).
Now, let us look at the occupations of
Nottingham’s tenants, which makes even more fascinating reading. Of the 27,300
privately rented properties in the Nottingham area, 18,271,918 head tenants
(the head tenant being classified as the head of the household) are in
employment (the other 9,029 rental property head tenants either being retired,
long term sick, students or job seekers).
Splitting those 18,271 head tenants down
into their relevant professions, 7,240 of them are Managers, Directors, Senior
Officials, Professional or Technical Professions, 1,520 in Administrative and
secretarial occupations, 1,477 in Skilled Trades, 1,527 in the Caring, Leisure
and other service occupations, 2,084 Sales and Customer Service Occupations,
1,246 Process, Plant and Machine Operatives and finally, 3,177 in Elementary
Occupations.
The one thing I have always known
anecdotally, but until I did my research, never had anything to back it up
with, was the high proportion of professionals and skilled trades renting
property in Nottingham - intriguing! Maybe in future articles, I will look
deeper into the corporate tenant market, young and middle aged families,
students and older person’s rental markets.... but in the meantime, if you want
more news and views about the Nottingham property market, please email on
Jaclyn.bartlett@centrickproperty.co.uk
