What tenants really, really want?

What tenants really, really want?

Is there really any science behind letting a property, or is it just simply about having a property in the right location? In the era of generation rent and in which, according to recent research by Zoopla, it is 47% cheaper to rent a property in London than to buy, tenants can afford to be more particular about what they really, really want out of a rental property.

Not everyone renting is doing so because they a saving up for a deposit; some enjoy the flexibility it gives them to move and try new areas, others, especially in the capital, can enjoy a more affluent home and neighbourhood. Location, Location, Location is always important, as most will rely on public transport to get to and from work, therefore the time this takes in rush hour will always be a consideration when it comes to deciding which home to rent.

Not all tenants want the same things; many will be willing to pay a premium for certain features, such as a gym in their building, high spec kitchens, or having access to communal gardens or terraces. Therefore, when you are looking to target the rental market you need to understand the mind set and behaviours of those who you wish to attract. Get it right and you will always have minimal void periods; get it wrong and even in today's buoyant rental market, you may struggle.

A well maintained property is essential, with a modern kitchen and bathroom; remember, every inch must be spotless. Don't forget any outside areas, if your rental benefits from a small garden and terrace, take a little time to make it an attractive space that tenants will want to spend time in - this will only make your property more attractive in the eyes of potential tenants.

Tenants want to feel safe and secure in their new home, and this is where paying attention to the exterior of the property as well as the presentation of any communal areas is important. Small changes can make a huge difference, even if it's just tidying up fallen leaves and dead plants, or freshening up the paintwork in the hallway.

First class management of the property is a must. If you're managing your portfolio yourself then you need to be on the top of your game, especially at this time of year as we're heading from autumn into winter. It is during these cold months when pipes can burst and boilers fail, and if there is one sure fire way of upsetting your tenants, it's not reacting quickly and efficiently when issues arise. They are looking for a proactive landlord, who takes extra steps to ensure that their property is maintained thoroughly throughout the year.

By managing properties and working with tenants on a daily basis, we can see what issues arise, and also understand tenants concerns. We constantly work with our landlords to ensure the service we give to your tenants exceeds any they have experienced before. We want your properties let and re-let, ensuring that your void periods stay at an absolutely minimum, your property is respected, and your tenant is happy.

If you would like your property appraised by our lettings team to ensure it meets the wants and needs of today's tenants, contact a member of our lettings department today.