Thursday, 18 February 2016

What does the Warrington tenant look like?





“What does the Warrington tenant look like?” asked one of my landlords from
Appleton yesterday. He carried on before I could reply, “Let me guess, a
professional couple, both in their 30s, flawlessly tidy, pay their rent early, don’t
complain or fuss, no plans to move and cheerfully accept annual rent rises?!”.

Before I answer the question, let me share some thoughts…

I’ve always believed all a landlord wants (and expects) of their tenants is that
they pay their rent on time and look after the property as if it were their own. In
return, the tenant expects the landlord to provide a property that’s warm, clean,
modern and damp free and to resolve any issues (such as repairs) quickly and
without fuss.

So, let’s go back to our original question and look at the actual profile of a
Warrington tenant in more detail. In my experience they tend to fall into one of
the following categories, each one with very different wants and needs:

• twenty something professionals
• young and middle aged families
• corporate tenants (their employer finds them a house to live in)
• students
• older singles/couples
• housing benefit claimants

Choosing who best suits your Warrington property – and steering clear of
tenants that do not match your criteria – is a big factor in making your property
investment a success.

Housing benefit

One question I’m often asked is should a landlord accept tenants on housing
benefit?

If this is high on your list of questions, it might interest you to know that of the
47,906 privately rented properties in the Warrington area, 33% of the tenants
are in receipt of some form of housing benefit (compared to 39% at a national
level).

I know many landlords have experienced late rent payments with tenants on
benefits, especially since 2008, when local authorities started paying housing
benefit to tenants rather than directly to the landlord. But you cannot ignore the
fact that housing benefit tenants make up a significant proportion of the
Warrington rental population. You could just as easily come across a nonbenefit
tenant who doesn’t pay their rent on time.


Occupation


Of the 47,906 privately rented properties in the

Warrington area, 89% of head tenants (the head of the
household) are in employment. The other 11% are
either retired, long term sick, students or job seekers.
Surprising?

It might surprise you further when we break down
those head tenants by profession.












As a landlord you need to decide what sector of the market you want to let to.
Most landlords have a preferred tenant type and will buy property to suit them.
For example, many landlords have come to me over the years looking to buy a
property in the area surrounding Warrington Hospital, so they can let to medical
professionals. At the end of the day, the final decision on whether to accept any
tenant rests with you, the landlord.


To discuss your investment needs, what property you should be buying and your ideal tenant please give me a call or pop in to the office when you are passing. We are based on 6 Bankside, Crosfield St, WA11UP or drop me an email on manoj@hamletwarrington.co.uk
Don't forget to visit the links below to view back dated deals and Warrington Property News. 

Website, http://www.hamlethomeswarrington.co.uk/

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