Are you giving tenants what they really want?
Published on 17th July 2018 by Laura West
When investing in a property, or decorating or upgrading one, it’s obviously important to bear in mind the needs of the new tenants. But it can be difficult to second-guess exactly what a tenant needs or is looking for in a home. Once you know what is top of a tenant’s wish-list, then you can make sure your marketing reflects those needs. When a property is vacant, there are many things which can be done to get the accommodation ‘rental ready’ again. From decoration to lighting, carpeting, soft furnishings and outdoor space, there is a lot which can be done to improve a property’s appearance. It’s also important to look over the property with a critical eye to see which are the best features that should be showcased in the photos or videos.
The latest research by Usurv, for Cover4LetProperty, shows what matters most to tenants. It is probably no surprise that cost is the most important issue, with 77% of people taking part in the survey saying this is their determining factor when looking for rental properties. Again, it is probably no surprise that location is identified as the second most important consideration, with 68% of respondents saying that this is a significant factor. More surprisingly is how important a garden is for many tenants, with 48% saying this is important to them. The fourth consideration on the list, at 32%, is being able to keep a pet. This is seen as more important than easy parking, which comes in fifth with 23%.
The number of tenants seeking rental properties that allow pets is growing quickly and it’s an important consideration for nearly one in every three tenants. So this could be an area that landlords look into, when marketing or upgrading their property. Making the property more pet-friendly or even simply accepting animals will mean more potential tenants looking at your properties. Obviously, some properties are not suitable for dogs – or larger dogs in any case – but other pets could be quite at home in a flat.
These considerations will also affect how a rental property is marketed, to put the most important attributes at the top. If a property has a garden, then be sure to mention its size and what features it has, such as a barbecue area or raised flowerbeds. Pet-friendly accommodation could also point out nearby dog parks or dog-friendly walks near to the accommodation. These will all make a property stand out from the norm and get noticed by the right people who want to rent it.
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