When it comes to hunting for the perfect rental property, one of the most important things is location. We might have heard it a million times but ‘location, location, location’ is likely to be the main deal-breaker. However, not everyone’s idea of a good location is the same and can mean different things to different renters. They might be looking for:
- A safe area with good schools
- A city centre location close to work or college
- Near nightlife
- Close to the motorway for commuting
- If your property is lacking in one of these areas, it’s useful to understand the strengths and benefits of the area your property is in. Understanding this means you can target your ideal audience much more effectively. Once you know who your target market is, it’s easier to focus on marketing in the right direction.
The next consideration for potential tenants is their budget. Everyone will be looking to get the most out of their money by finding the best possible property for their budget. For landlords, this means you must price your monthly rent competitively in line with other similar properties. Compare how the features of your property stack up against others on the same road or neighbourhood. Setting the rent too high could be a false economy if your property then stands vacant for a long time. For Gloucester Letting Agent, visit Alexclarkglos Gloucesters letting agency
There are some features that all tenants will be drawn to, which make properties more attractive and don’t cost huge amounts to install either:
- Contemporary, clean and well-equipped kitchen and bathroom
- Inclusion of some white goods like a washing machine, dryer, and dishwasher
- Simple style touches such as a feature wall
- Stylish, clean & comfortable interior
- Ample storage space
- A tidy and functional outside space even if it’s small
- Lots of natural light
- Open plan design
Most people desire home ownership in the UK, so the most popular form of tenancy agreement is a short term of between six and eighteen months. Many tenants use this time to save towards a mortgage, maybe waiting for house prices to fall. However, these hopes don’t always come to fruition and if your tenants need to remain, then as a landlord you’ll want to keep good tenants for as long as possible. Here are some factors that will entice your tenants to stay:
- Have a good working relationship with your tenants which means responding to their communications and keeping the property in good order maintenance-wise.
- Allowing the tenants a little flexibility when it comes to putting their own personality into the property is also a thing to consider. A bit of personalisation and light decorating means they feel more at home while hunting for their ideal first bought property.