Landlords must understand what their tenants want in rentals. What attributes do renters search for in a property? What should landlords look for when buying a buy-to-let property? What turns off tenants?
Some landlords fail to understand precisely what tenants want, while some tenants struggle to locate a house that suits their requirements. In this post, we will discuss the top attributes that tenants look for in a rental and what landlords can do to increase tenant interest.
Location
People wanting to rent homes place a high value on location. Most people want to be near to local shops, facilities, and public transportation, as well as their employment.
Of course, if you already have a rental property, you cannot move it. When considering acquiring a buy-to-let property, landlords should consider the location as well as the sort of tenants it would appeal to.
Tenants prefer not to reside too far away from local facilities. This is particularly true if they do not have a car and transportation options are restricted. It’s crucial to have a supermarket, GP, pharmacy, and other services nearby, and school catchment areas are a key concern for families.
Because location of rentals is a major determining factor for renters, landlords should mention all surrounding facilities in the property advertisement description.
Safety & Security
Every tenant wants to feel secure in their home. Most individuals would not prefer to rent a house in a high-crime area, thus location and safety often go hand in hand.
Renters like the confidence of a functional security system with alarms and robust locks on windows and doors, in addition to the area’s crime rate. As a result, landlords must ensure that the rental property has an operational security system.
Landlords can make their tenants feel safer by installing CCTV, adding additional locks and a peephole to the front door, and ensuring all safety certifications are in place, in addition to having a functional security system.
A mid-term inspection to see the property is also suggested for landlords to check that everything in their property is safe and functional. This also allows the renter to address any questions or concerns they may have.
Outdoor Space
Many renters like having their own outside area in rentals, whether it’s a garden, patio, or balcony. If such possibilities aren’t available, being close to a neighbourhood park is frequently a huge draw for tenants, particularly those with small children.
Having outside space allows residents to enjoy the sunlight during the warmer months, hold outdoor gatherings for family and friends, and have a separate spot to relax in. Outdoor space has been especially popular during the pandemic since individuals were confined to their houses for so long and realised how crucial it was to have that outside space.
If the house has a garden, upgrading and enhancing it might help to attract more potential renters. This demonstrates to tenants that the landlord is concerned about the property and prepared to make adjustments. It may also boost the property’s value.
Open Plan Rentals
Open floor layouts are becoming more popular. Nowadays, many homes include an open-plan kitchen and dining room, which makes even the tiniest areas appear much bigger. This allows renters a lot more freedom, enabling them to use it as a dining room, lounge area, or even an at-home office space. Open-plan layouts are often suitable for student leases and HMO residences with community areas.
Landlords may want to consider demolishing a wall in their kitchen or living room to create a place for an open-plan space. If an open-plan concept is not a possibility, landlords should consider eliminating large pieces of furniture that may take up a lot of space in particular areas.
Parking & Transport Links
Transport connections are a key draw for renters, particularly students and commuters. Of course, you can’t modify the transportation options in your region, but you may emphasise them in your property advertisement. Transport connectivity, as well as the overall location, should be considered when acquiring a buy-to-let property. Nearby bus, subway, or tram stations may pique your curiosity, as will easy access to main roadways, particularly in commuter towns.
Having a dedicated parking place is essential for drivers. If landlords have the opportunity, providing renters with access to a parking area or garage would be much welcomed. This not only gives convenience, but it also adds security by enabling residents to be near to their automobile.