What does the modern tenant want from their rental property?
Whether you want to give your current properties a rental market boost or you’re looking to add a new property to your portfolio, it’s important to know what tenants look for when searching for somewhere to live.
Recently, Zoopla analysed its own search data to find the most sought-after rental property features. It revealed parking as the most desirable feature of rental homes across England.
Rental homes that allow pets were also in high demand across the UK, with the term ‘pets’ featuring in the top three most searched property features in every region.
On a regional level, London tenants had the most luxurious requirements, with ‘gym’ and ‘ensuite’ featuring in the top 10 most searched lettings terms in the capital.
While all renters have different priorities, there are some universal criteria for the average modern renter. Here at Angels Sales & Lettings we outline some of the key features for landlords to consider.
A clear and contemporary home
Modern fixtures and fittings typically go down well with tenants. In most properties, if your interior is looking dated, consider sprucing it up to make the space more attractive.
In the same way, a property that is grimy and dingy won’t appeal to anyone, so ensure that you keep yours clean, light and clutter-free. This doesn’t have to mean installing a new kitchen or bathroom, however. Try a fresh lick of paint and other small enhancements to boost the charm of your property.
It’s worth noting, though, that tenants will want to make the space their own, and this is easier to do with a blank canvas. When decorating, neutral colours will help to amplify what natural light the property has.
High speed internet
With the world becoming increasingly connected, high speed internet has become an important requirement for most renters. Whether for work, study or leisure, tenants value a decent internet speed; fortunately, this is a given in most urban locations.
Tenants are also impressed by added extras in the home, such as Sky TV, underfloor heating, a dishwasher or other modern gadgets and appliances.
Inner-city properties that are close to bus and tube stations can prove significantly more attractive to would-be renters, so you need to highlight any key transport links when you come to let your property.
For example, if you have a rental property in Enfield – the location in which we operate – then it’s worth mentioning how well-connected the area is.
The borough is served by four tube stations, with commute time taking just 30 minutes to the city and 45 minutes to central London. Commuting from Enfield can also be more affordable when compared with other areas on the outskirts of the capital.
Parking and garages
Parking and garages are an extremely popular requirement for tenants, appearing first and second in Zoopla’s table of top frequently searched features of rental homes.
According to research from the British Parking Association, the average motorist in the UK spends 91 hours (nearly four days) every year looking for parking spaces.
This underlines the fact that parking of any kind – particularly off-street parking – will add value to almost any property. As a landlord, consider creating or enhancing existing parking where possible.
Local amenities are another vital consideration for most tenants, but which ones are important depends on the kind of renters you’re looking to attract.
If you want to let to students, for example, then proximity to the local university – or a bus that goes directly to it – will be appealing. Families, however, are going to be more interested in nearby schools, shops and outdoor space.
Luckily, having a rental property in Enfield means that tenants can access all of these and more thanks to its vast transport links.
Even if your tenants don’t have a pet when they move in, they may still consider a rental that is pet-friendly if they’re looking to settle for a while.
Rental homes that allow pets featured in the top three most searched property features, meaning that there are lots of different people in the capital looking to give their animals a home.
Because of this, your pool of potential renters can broaden significantly if you go against the ‘no pet’ policy, which we explored in a previous blog on attracting and keeping long-term tenants.
As a local letting agent covering Enfield and the whole of the capital, Angels Sales & Lettings can help to make tenancies run as smooth as possible for landlords.
You can also find out how much you could be generating in rent each month by requesting a free and instant online valuation today.