If you’re thinking of letting a property, it can really pay to think like a tenant. Properties that match up with a tick list of top features will be in higher demand, offer a higher rental income and you’ll get your pick of applicants.
So, what is it that tenants are looking for when it comes to property lettings? Of course it varies person-to-person, but there are a few features that come up in conversation again and again. This is what people are looking for:
Location is probably at the top of everyone’s list when they’re looking for somewhere to live. A property that is close to parks, good schools, local amenities and/or shops will certainly appeal to prospective tenants.
Another deal-breaker for lots of people is the parking situation. Do you offer parking? Or is there somewhere nearby residents can park easily?
Lockdown and the increase in people working from home has pushed this feature right up the list of requests when it comes to renting out a property. People like to have their own outside space and if you’re letting a flat or house with its own garden, you should have plenty of applicants keen to rent.
The way people live and socialise has changed significantly over the years and open plan living is definitely a big draw for most tenants. As an added bonus, this kind of layout can make a space feel much bigger.
Clutter is a problem for lots of people and built-in storage is a huge draw for prospective tenants. As they look around they’ll know there’s somewhere to easily keep their belongings and it also reduces the amount of freestanding furniture they’ll need.
If you’re letting a property complete with fitted appliances, you’ll make lots of prospective tenants happy! Those who rent often don’t have their own white goods and knowing they won’t have to fork out for the expense and hassle of buying them is extremely appealing.
You’d be amazed at the difference a little TLC could make to the value and appeal of your rental property. Address things like mould, stained carpets, marked walls, faded curtains and your property will feel fresh and inviting.
Animal lovers jump at the chance of renting out a property that allows pets. Lots of landlords decide against it but, if you’re willing to consider offering a pet friendly contract, you’re likely to attract a lot of interest in your flat/house.
Working from home has become a popular choice for lots of people and the option for a dedicated office space is extremely appealing.
Even if they don’t rely on transport links in their day-to-day lives, people will look to see if there are convenient bus routes, nearby train stations and the ease of access to major connecting roads. It’s worth thinking about the time it’ll take tenants to get to city hubs as this can appeal to commuters and even those thinking forward to their holidays.
Some people specifically hunt for homes with plenty of natural light while others are subconsciously drawn to them when they look around a property. Big windows and the position of a building can make all the difference to ‘rentability’.
As a landlord, you’ll have to supply your tenant with an EPC (Energy Performance Certificate) so there’s no hiding the eco friendliness of your property. Tenants will be impressed by a home that is well insulated and able to support ‘greener’ living… not least because their energy bills will be lower.
No two tenants are the same when it comes to what they’re looking for in a property but, more often than not, these top features will be on their tick list while they hunt. If you’re preparing your property to let or are thinking of purchasing a buy-to-let, think about what matters most to the tenants you’re aiming to attract.
If you’re planning on letting a property and would like to talk about your options, please get in touch. At Charters, we have years’ of experience in helping clients with property lettings and will be happy to answer all your questions.
Check out our blog with tips on attracting tenants here.
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