Standards are rising for UK rental properties

Standards are rising for UK rental properties

New research by insurance giant AXA has revealed that standards of rental properties are on the rise. As more and more people turn to renting and build-to-rent projects take hold in the UK, landlords have been raising their game and implementing positive change. Over the last four years there has been a number of new rules and legislation aimed at improving living standards for tenants and this is how landlords have responded:

  • 81% of rental properties now have a tenancy agreement (8% improvement on 2014)
  • 58% have a current gas safety certificate (28% improvement on 2014)
  • 33% have and Energy Performance Certificate (14% improvement on 2014)
  • 59% have smoke alarms on each floor (17% improvement on 2014)
  • 34% have carbon monoxide alarms (7% improvement on 2014)
  • 41% have an inventory of contents (5% improvement on 2014)

Commenting on the research, Gareth Howell, MD of AXA Insurance, said: “Landlords are getting more professional and we are seeing standards rise in British rentals, driven by legislation and the desire of landlords themselves.”

There’s still a lot to be done but the above figures do show how landlords are putting the needs of tenants high on their agenda. As more landlords invest in rental property, and the potential of longer-term tenancies become a reality, savvy landlords understand that a happy tenant is a tenant who pays on time and takes good care of their investment.