If you’re a buy to let investor, then it is worthwhile choosing a property with desirable features tenants would be happy to pay more for.
Zoopla has analysed data from its keyword search tool to come up with a list of the top 5 features renters look for most in a rental property.
Here is the top 5:
- 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
Even if your tenants don’t have a pet when they move in if they’re looking for long-term rental, then providing a pet-friendly property is a bonus if they decide to get pets later.
If you allow pets in your property, then renters will be happier to pay a higher rent in return.
- Furnished
An important feature that tenants look for is a furnished property.
This removes the stress and expense of buying furniture, which is ideal for short-term renters who want to avoid the cost of moving items around.
In addition to being furnished, renters are also wanting modern, clean and practical design using 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 balcony.
Outdoor secure space is important for families with young children. The downside is that most tenants find taking care of a garden a chore.
Properties with communal gardens or gardens that are tended by someone else is considered highly valuable.
- Students
There is always a high demand for rental properties that allow students and has communal shared spaces.
This not only reduces the rental amount for students, but it also serves as a social outlet.
In sixth place was the search term “bills included.” A feature that is attractive to renters is having all bills included, such as electricity and gas, so that they can budget easier.
Investing in the Right Property
Ultimately, you’ll attract better tenants if your property has features which 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.
We recommend that if you are thinking about buying a property to let that you first start by getting professional advice, so you can make a considered decision.
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
