fbpx

Mental Health: Taking care of yourself & your tenants

Letting out a property can be stressful and then add on top of that the current cost of living crisis, it’s not surprising that landlords and tenants are struggling with their mental health.

NRLA data shows that 40% of landlords believe the pandemic had a ‘negative or very negative’ impact on their mental health, with many tenants also struggling.

 2022’s Mental Health Awareness week campaign focused on loneliness and according to organisers, one in four adults feel lonely some or all of the time.

 The NRLA has created somewhere landlords can access support for themselves and their tenants with specialist staff who can help and offer advice.

Mental Health

Landlords: How to look after your mental health?

Being a landlord comes with a number of stresses and it can be hard work at times. On many occasions, landlords and investors can experience burnout. Remember to take a break and make time for yourself – coming back to something once you’ve had some time away from it can make the task seem easier and less stressful. 

Additionally, if you find that your workload is becoming too much then don’t be afraid to source some extra help. Whether it’s just someone doing administration work once a week or someone cleaning your properties for you – lightening your workload can mean less stress for you.

Tenants: Checking in on their wellbeing.

 You may not check on your tenants often which is quite normal, if they don’t have issues and always pay their rent on time, why would you? However, it could be nice to check on them maybe every few months, check how they are and how they’re doing.

For example, they might be worried about their finances and you may be able to offer them a discounted rate for a couple of months or come up with a plan together. Your tenant may not ever say anything but you starting a conversation could put their mind at ease. Plus can help towards avoiding any problems in the future and a happier tenant.