The Key to Attracting Good Quality Tenant
Although there is an increase in the number of people looking to rent properties in London, as a Landlord we understand that you want to attract quality tenants.
The key to attracting good quality tenants is to ensure your property has desirable features that tenants would be happy to pay more for.
Here is a list of the top features renters look for most in a rental property:
- Parking or Garage
Parking of any kind, but particularly off-street garage parking, is an ideal feature that tenants would pay more for.
Off-street parking, a dedicated secured parking spot or even on-street parking close to the property will add value and attract the ideal renters.
- Pet-Friendly
Only 7% of the rented properties are listed as being suitable for pets.
If you allow pets in your property, then renters will be happier to pay a higher rent in return, plus your property will stand out from the competition.
Even if your tenants don’t have a pet when they move in, providing a pet-friendly property is a bonus if they decide to get pets later.
- Furnished versus Unfurnished
An important consideration is whether to offer a furnished or unfurnished property.
If you want to provide short-term rental or are renting an HMO property, then offering a furnished property is ideal, as this removes the stress and expense of tenants buying furniture.
However, if you are focused on attracting long-term tenants, then an unfurnished property may be more suitable, as your tenants will want to make your property their own with personal touches.
- Modern and Clean
Whether you choose to offer furnished or unfurnished, renters want a modern, clean and practical design with quality features.
This includes:
- practical kitchens
- new paint – typically neutral colours are best
- modern bathroom, or ensuite
- storage space
- matching fixtures and fittings
- lots of natural light
- Garden
Many tenants want some form of outdoor space… a garden, a patio, or a terrace.
Outdoor secure space is important for families with young children or professionals that work from home.
The downside is that most tenants find taking care of a garden a chore. If you have a property with an outdoor area, it is best to add garden maintenance as valuable inclusion.
- Communal Shared Spaces
There is always a high demand for rental properties that allow students or young professionals to live in a quality property with communal shared spaces.
This not only reduces the rental amount but also serves as a social outlet.
- Bills Included in the Rent
Another key feature is to offer bills included with the rent, such as electricity and gas. This is attractive to renters, so they can budget easier.
- Get your Property Rent-Ready
Before you list your property, make sure it is ready for potential renters. This means making sure it is safe, well-maintained, and clean.
Now is the time to tidy up, declutter and fix any outstanding maintenance items.
- Choose the Right Letting Agent
The final key factor is to decide if you are going to be on hand to deal with maintenance, repairs and finding quality tenants. Or if you will appoint an agent to do this on your behalf.
If you decide to find an agent, make sure you find someone reputable that you can talk to. You want to build a strong working relationship with them and make sure they can help look after your tenants and your investment.
Find out what their property management service includes and excludes, so you know what your time commitment will need to be.
Investing in the Right Property
Ultimately, you’ll attract better tenants if your property has features that are in high demand and if the property is in the right areas and near public transport.
First, start by researching the local property market. And then be clear on what type of tenant you want and what is important to them… but don’t overspend.
At REKA Property Management, we give our clients the facts about the property industry.
If you want to know how to achieve solid rental returns and have peace of mind with your property, then call us on +44 (0) 203 286 6468 or email us at Admin@RekaProperty.co.uk
Doug
Although there is an increase in the number of people looking to rent properties in London, as a Landlord we understand that you want to attract quality tenants.
The key to attracting good quality tenants is to ensure your property has desirable features that tenants would be happy to pay more for.
Here is a list of the top features renters look for most in a rental property:
- Parking or Garage
Parking of any kind, but particularly off-street garage parking, is an ideal feature that tenants would pay more for.
Off-street parking, a dedicated secured parking spot or even on-street parking close to the property will add value and attract the ideal renters.
- Pet-Friendly
Only 7% of the rented properties are listed as being suitable for pets.
If you allow pets in your property, then renters will be happier to pay a higher rent in return, plus your property will stand out from the competition.
Even if your tenants don’t have a pet when they move in, providing a pet-friendly property is a bonus if they decide to get pets later.
- Furnished versus Unfurnished
An important consideration is whether to offer a furnished or unfurnished property.
If you want to provide short-term rental or are renting an HMO property, then offering a furnished property is ideal, as this removes the stress and expense of tenants buying furniture.
However, if you are focused on attracting long-term tenants, then an unfurnished property may be more suitable, as your tenants will want to make your property their own with personal touches.
- Modern and Clean
Whether you choose to offer furnished or unfurnished, renters want a modern, clean and practical design with quality features.
This includes:
- practical kitchens
- new paint – typically neutral colours are best
- modern bathroom, or ensuite
- storage space
- matching fixtures and fittings
- lots of natural light
- Garden
Many tenants want some form of outdoor space… a garden, a patio, or a terrace.
Outdoor secure space is important for families with young children or professionals that work from home.
The downside is that most tenants find taking care of a garden a chore. If you have a property with an outdoor area, it is best to add garden maintenance as valuable inclusion.
- Communal Shared Spaces
There is always a high demand for rental properties that allow students or young professionals to live in a quality property with communal shared spaces.
This not only reduces the rental amount but also serves as a social outlet.
- Bills Included in the Rent
Another key feature is to offer bills included with the rent, such as electricity and gas. This is attractive to renters, so they can budget easier.
- Get your Property Rent-Ready
Before you list your property, make sure it is ready for potential renters. This means making sure it is safe, well-maintained, and clean.
Now is the time to tidy up, declutter and fix any outstanding maintenance items.
- Choose the Right Letting Agent
The final key factor is to decide if you are going to be on hand to deal with maintenance, repairs and finding quality tenants. Or if you will appoint an agent to do this on your behalf.
If you decide to find an agent, make sure you find someone reputable that you can talk to. You want to build a strong working relationship with them and make sure they can help look after your tenants and your investment.
Find out what their property management service includes and excludes, so you know what your time commitment will need to be.
Investing in the Right Property
Ultimately, you’ll attract better tenants if your property has features that are in high demand and if the property is in the right areas and near public transport.
First, start by researching the local property market. And then be clear on what type of tenant you want and what is important to them… but don’t overspend.
At REKA Property Management, we give our clients the facts about the property industry.
If you want to know how to achieve solid rental returns and have peace of mind with your property, then call us on +44 (0) 203 286 6468 or email us at Admin@RekaProperty.co.uk
Doug
