Published: 02/03/2022
With the London residential property lettings market changing considerably over the last decade, landlords must stay up-to-date to make the most of their investment.The rental market is forever evolving and so are tenant expectations. What do renters seek in a rental property? This article highlights 7 key factors:
- Cleanliness
- Safety and security
- Location
- Adequate storage
- Equal bedroom sizes
- Pet-friendly
- Good landlord
Clean and well-maintained properties are a must. Tenants expect a clean, well-kept property that is in good working condition. Landlords who neglect these basics will struggle to attract tenants and receive full rent.
Safety and security are essential. Tenants want to feel safe and secure in the property. This can include locks, lighting, and compliance with laws.
Location is crucial. The location of the property can impact the type of tenant it attracts and the rent amount. Consider the needs of the target tenants.
Adequate storage is important for long-term tenants with belongings. Landlords can improve storage by utilising attic space, adding cupboards, or providing a secure shed.
Equal bedroom sizes are preferred. Properties with equal-sized bedrooms have a wider appeal than homes with a master bedroom and smaller bedrooms.
Pet-friendly homes are in demand. Some tenants have pets, and whether or not to allow them is a personal decision with pros and cons.
A good landlord is key. Tenants seek a reliable, trustworthy landlord to rent from. Landlord horror stories have made tenants cautious.
Conclusion
Tenants are more clued up now than ever before, and they know that working with a well-regarded letting agent means they are fully covered and will be well looked after. Of course there’s a cost involved, but if you’re serious about succeeding in buy-to-let, deciding to have an agent on your side could be one of the most important decisions you’ll ever make as a landlord.
Circa London is a highly reputable central London letting agents who do the leg work for you.
