Profit pendulum swings in favour of lettings
The pendulum of profit power is swinging in favour of lettings, despite what you think about the Tenant Fee Ban. Up and down the country, sales departments are stagnating. Sales goes in cycles – peaks …
HMOs (Houses in Multiple Occupation) are some of the top-performing property investments but many landlords are put off running one and property managers weary of them due to their reputation.
Tenant troubles can be long-running in a HMO, where many different characters are thrown together. Although the referring process will do a good job of weeding out those incapable of paying the rent, it does little to qualify personalities that may get along or rub each other up the wrong way.
Now there’s a new type of referencing promising to go mainstream. Swiss DNA testing company Karmagenes is publicising kits to prospective tenants, where they can use saliva swabs, together with an online personality test, to create profiles in order to find the best suited house mates.
This altogether more intimate style of referencing is already being offered to tenants using SpareRoom, who says it’s bringing a ‘little science’ into the house-share sector to ensure perfectly matched people find themselves under the same roof.
Whether DNA technology will be taken up by landlords and letting agents remains to be seen but if it cuts down on professionals having to mediate between squabbling students or perhaps halts a tumultuous turnover of tenants, the spit test may provide a more scientific property management solution.