London‘s highly competitive private rented home market means just 8% of Londoners bother to check a landlord‘s credentials with a staggering 92% of potential tenants admitting they have resigned themselves to ‘taking what they can get’.
The findings come from a removals firm Kiwi Movers who say that despite having to ensure a background check conducted on their potential as a tenant, most renters are not as diligent in checking their potential landlord.
This lack of information means tenants are at risk of renting their home from a criminal or rogue landlord with most London renters saying the capital’s highly competitive rental market is their main reason for not doing so.
The study also reveals that just 20% of renters in the UK actually carry out any sort of check on their potential landlord before signing up to a tenancy.
Tenants would prefer to rent their home from a female landlord
The figures also reveal that one in four tenants preferred to rent their home from a female landlord and 44% of women said they would prefer to rent their home from a woman.
When questioned about checking their landlord‘s credentials, 24% of women, on average, are more likely to carry out a background check on a landlord compared to 15% of men.
Kiwi Movers’ Regan McMillan said tenants are at risk from dodgy landlords so they can secure a home in a ‘cut throat market‘.
He said: “We see the rental sector and get to speak and meet with people who are at the mercy of a competitive rental sector. Rented homes are quickly taken and most realise if they want somewhere to live they must act quickly.
“This may mean they do not have time for checking their landlord and, if they did, I believe many of them would take that risk so they have somewhere to live.”
Problem is more pronounced within London
He added that the situation is more pronounced within London but it’s still a ‘sad’ state for many tenants around the UK.
The report also reveals that one in five tenants believe that when renting from a lettings agency means they do not have to worry about their checking of landlord credentials or their history.
Of those who did carry out a check, 18% who found negative information said it did affect their decision to rent from the landlord, while another 43% said their background check had revealed useful information.