Firstly, some investors think they are Landlords, and this is perhaps where the problems begin. There are then people who walk in the tenant's shoes and treat people as they wish to be treated themselves.
I could spend hours on my soap box, but I will try to be succinct as possible.
We have a small but manageable portfolio. We don't use agents to manage them; we do it ourselves so that we have a direct relationship with tenants.
Every property we have is knocked back to bare bricks and modernised to meet the needs of people of today. We insulate the building (All Walls, Floors and Ceilings) and we do this so that the tenant's energy bills are low as possible. You don't actually need to put the heating on to be warm, the house always feels warm, and there is no damp or mould as a consequence.
All of the windows are up-rated UPVC double glazing with a special reflective glass to keep the heat in the building and filled with an inert gas known as Argon - much more expensive than regular double glazing, but we do this to save the tenant £££
We install energy efficient lighting such as LED and we also fit interlinked battery backed mains powered smoke, heat and carbon monoxide sensors.
We don't only get the basics right, but we ensure quality is injected into the property to give a high-end finish.
So you may be forgiven to think this is some top end swanky location - well, no. We do this in the most deprived areas as we feel location should not dictate your attitude towards providing quality living standards.
When we began developing the properties, we had to fire some subcontractors because they too had the wrong attitude towards the job. They had an attitude of "it's good enough for the area" - err, no - goodbye your fired.
The rents we charge start from £85 per week for a 2-bed property that is as high quality in features, eco measures, low running costs and high-quality finish with bathrooms, kitchens and soft furnishings as property costing much more elsewhere.
The downside of this is we cannot afford to expand our property portfolio as we spend vast amounts on getting what we have 100% right. But in the very long term, it will financially make sense, but for the tenant, it makes perfect sense from the beginning.
A good example, we advertised one property on Openrent, which in turn was listed on rightmove. We received a lovely email from a gentleman in Canada, and I quote.
"I really like what you've done to this place. Here in Canada, we take such things as interlinked detectors and fire doors for granted. To go to all that trouble and cost without the legal need to do so speaks to a real sense of pride and decency. I haven't settled on XXXXX as a base for my trip, but if I did, even though it's a bit over my budget, this will be at the top of my list.
Thank you for being a decent human being.
Peter"
If you would like to see what I'm talking about, I believe the link still works
www.openrent.co.uk/property-to-rent/burnley/room-in-a-shared-house-brunshaw-road-bb10/243636
There are decent people out there - it's just finding them.