How to Ensure Your Property Appeals to Tenants
Are you considering investing in a buy to let property or wondering if your current home could work as a rental? We always suggest you put yourself in your prospective tenants shoes before you even start looking for a property. Knowing the type of tenant you want to attract should influence every decision you make thereafter. We’ve compiled the Cotswold letting agency top tips for landlords from our many years of experience in working with landlords and helping tenants find the perfect rental property.
Tip #1 Location, Location, Location!
How will the location benefit the tenant you want to attract? If your property is in the catchment area of great schools and away from busy roads, it will most likely appeal to families. Close to a commuter route or on the edge of a large town or city, it could appeal to couples or even a working family. Or if your property is in the centre of town or walking distance to a great pub then it may well be more suited to a couple or friends.
Tip #2 Is all about the fixtures and fittings.
If you’re anything like us, quality fixtures and fittings in your own home really matter, and your tenants will be no different. They can make all the difference in attracting a quality tenant and maximising your rental income.
The kitchen will need to feature all mod cons such as an integrated fridge and freezer, efficient dishwasher, double oven, induction hob and integrated microwave. Bathrooms should have space for a heated towel rail, a cabinet for toiletries and, of course, a bath and shower with a good quality shower screen. And each of the bedrooms should have space for a good sized wardrobe and chest of drawers.
Tip #3 Consider the layout.
One of the key reasons a tenant will disregard a rental property is if the layout doesn’t work for their needs. And top of the wishlist still, is a kitchen-diner. Tenants want the kitchen to be the heart of their rental home and often it will double up as a space to entertain friends and family and somewhere for the occasional bit of homework.
Something else to think about is the location of the bathroom in relation to the bedrooms. If you’re hoping to attract families to your rental property then they probably don’t want to have to go through the kitchen to bath the children every evening. Whilst it can be costly to install an extra WC, or even relocate a bathroom, in the long run it can be worth it if you want to maximise your rental income and ensure your property is snapped up by the right tenants.
And if you’re fortunate enough to have a property with a garden or outdoor space of any kind, it’s preferable if you can ensure the space is enclosed – making it safe for both young children and pets.
Tip #4 focuses on security and technology.
With the increase in people working from home we have seen a sharp increase in the number of tenants wanting to ensure their rental property is enabled for all the latest technology. Access to decent internet providers is something we are regularly being asked as tenants need to stay connected to their work during the day and then easily stream the latest box set in the evening.
With the advances in Smart technology many tenants want a RING doorbell, both for added security and so they never miss a delivery. Equally the ability to be able to control the central heating and outdoor lights from an app on your mobile phone is quite often on a tenant’s wish list.
Tip #5 Think interior design and decoration.
This is where you have to put your personal taste to one side and think simple and tasteful so that tenants belongings (and furniture if your property is unfurnished) will easily fit in.
We always advise trying to avoid children’s wallpaper so that a spare room can easily be used as an office, and not just a nursery.
In every room it is sensible to go for plain light colours. When choosing curtains and blinds make sure they are nice and neutral so they don’t clash with any soft furnishings and bedding that the tenants bring. Equally lightly coloured walls along with hard wearing wooden and tiled floors, or darker colour carpets will allow your property to be move in ready. It also makes it much easier for you to spruce up and maintain between tenants.
So that’s it, our Top Tips for landlords on attracting great tenants. Have a browse around the landlord information for further articles and information aimed at supporting landlords every step of the way.
And if you’ve got any questions then feel free to give us a call on 01993 684572 or drop an email to;
Olly: olly@cotswoldlettingagency.com
Fergus: fergus@cotswoldlettingagency.com
Alternatively stop by and see us at 15 Witney Street, Burford, OX18 4SN.
