Online lettings platform lettingaproperty.com has called on tenants and landlords to focus on the value of open communication in the current economic climate. 89% of adults in Great Britain reported that their living costs rose in August 2022, according to government research, with tenants and landlords alike impacted by spiralling food, energy and other prices. Shawbrook Bank, meanwhile, reports that 85% of renters have made changes so that they can cope with the increasing cost of living.
Renters worrying about paying their bills or their rent can feel reluctant to raise their voices, but the team at lettingaproperty.com are encouraging them to do just that.
“Communication is key when it comes to finding solutions to economic hardship. By opening-up dialogue, preferably early in the process, tenants and landlords can work together to find the best way forward.” Jonathan Daines, Founder and CEO, lettingaproperty.com
The lettingaproperty.com team has long advocated the value of communication. During the pandemic, they encouraged tenants and landlords to talk, helping to reduce fear and misunderstanding by promoting open, honest dialogue. The team facilitated conversations while leaving landlords and tenants in control. They also offered support by facilitating payment plans during the Covid crisis, with around 30 of the company’s 1,500 landlords putting these in place to avoid their tenants going into default.
“There is much that we can learn from the pandemic and apply to supporting both tenants and landlords under current economic conditions. Recognising the value of speaking out is the first step in working together to solve issues before they escalate. Tenants who raise worries about finances or talk to their landlords about how to cut energy use may find unexpected solutions to their concerns. It’s definitely good to talk.”
Jonathan Daines, Founder and CEO, lettingaproperty.com
lettingaproperty.com is currently in the process of launching a new rental platform, which will facilitate further communication between tenants and landlords. With 64% of respondents saying a global recession is “somewhat likely” in 2023 and that the outlook for the global economy has “darkened”, according to the World Economic Forum, communicating and working together to find solutions will likely become increasingly important over the months ahead.
For more information, please visit www.lettingaproperty.com or call 0333 577 8888.
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