What Tenants Want From a Rented Home
The easy way to become a successful landlord is to boost the appeal of a buy-to-let home by giving tenants what they want from a property. The problem is uncovering what they like and dislike about a home.
To help, consumer watchdog Which? The survey results were compared to 1,546 homes to rent to find out how many homes matched the tenant checklist.
Research that has asked a thousand tenants about their home choices reveals what landlords need to offer to make a home attractive.
Top of the list by a long way are unfurnished properties. Six out of 10 tenants want unfurnished homes - but only 14% match the bill.
The next three most popular features are being close to schools, parking space and a garden, all scoring around 22%.
Lots of properties fail this test as only 15% are near schools, 11% come with parking but 44% have a garden or other outdoor space. Some tenants also want access to a gym or swimming pool (18%) - and surprisingly, 15% came with this feature.
Properties scored highly on tenant desires for an attractive home close to work or a university. Although 17% wanted a nice looking home, 40% fitted the bill, while another 17% wanted a short commute, 58% matched the requirement.
A cleaning service was wanted by 16%, but only 3% of homes came with this option.
Another 16% liked the idea of an en suite bathroom, while 20% of homes offered the facility.
“Maximising your appeal to tenants starts with buying the right property,” said a Which? spokesman.
Which? suggests research the property market to find the right home, decide if a new or older home is best by weighing yields, stick to a budget to maintain profit margins and make unemotional business decisions.
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Advertising a Property for Rent
When advertising a property, the Energy Performance indicator of the EPC must be displayed. Aso, the advert should show the council tax banding. In addition, although generally a landlord or agent is no longer allowed to charge fees, if there are any permitted, these must be displayed.