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How Do I Make My Rental Property More Appealing?
New landlords may struggle to attract tenants to their rental property. But with void periods and a lack of rental income bearing down upon owners many will want to know how to make their rental property more appealing.
How Do I Make My Rental Stand Out?
Make Your Rental Pet Friendly
It was revealed that across 2019 less than 10% of all UK landlords offered pet friendly opportunities. With the number of pet owning households soaring over the lockdown period, landlords that open their doors to renters alongside their furry friends could see a wave of interest thanks to this frequently overlooked demographic.
High Speed Internet
Perhaps most important for those that choose to let out their property to full-time students or young professionals a high-speed internet connection has become an essential component of any letting opportunity. As can be expected this necessity will be far easier to provide if the rental opportunity is situated within a major city as opposed to more rural areas.
Is There Outdoor Space?
With seeing so many renters flee city centre locations at the height of lockdown, the importance in providing the occupants of your rental property with green space was made evident. This clear demand for outdoor space can be leveraged for a higher rent, whilst giving your property the edge over surrounding opportunities.
If your rental opportunity provides tenants with ample parking space this can be a significant advantage over surrounding properties, especially in cities where this could save tenants hundreds in annual parking fees.
Remember that tenants will also be interested in how the area surrounding the property will complement their lifestyle, making local amenities an invaluable asset when making your rental property more appealing. Students and young professionals will typically seek out good transport links, with families often depending on shops, schools and nurseries.
Needless to say, that first impressions count. Whilst many will have viewed the property only before attending the in-person viewing, the initial impression left by your rental opportunity is nevertheless poignant.
All landlords should ensure the following are attended to before viewings take place to ensure your property is presented in the best way to its future occupants!
- Clean the windows
- Scrub the paths
- Give the door a lick of paint
- Paint the gate and fence
- Pull out any weeds
- Trim the hedge
- Mow the lawn
- Hang a window basket with pretty blooms by the door or;
- Put a couple of potted trees either side of the main door
A clean Interior
It is essential for landlords to remember the intent of the tenants during a viewing whilst preparing their property. It goes without saying that the rental should be thoroughly cleaned before any viewings take place, but by removing most signs of the previous occupants, future renters can visualise their time within the property far easier.
Tenants will pay particular attention to communal areas, the kitchen and bathrooms, seeing some landlords turn to professional cleaners to ensure their property is pristine for its future occupants.
Use Natural Light
Get as much natural light coming in to your rooms as possible. It always makes the place look brighter and cheerier. Emphasis the light by hanging large mirrors opposite windows to reflect and ‘bounce’ the light around the room. Use a mixture of different lighting elements, from floor lamps, to spotlights and table lamps, with the latter can make any dark corner look cosy.
Use Neutral Colours
Prospective tenants go to a property they are thinking of renting and try to imagine themselves living there. The easiest way to let your tenants ‘see themselves’ in your property is to keep everything to a neutral colour scheme. That way they can not only get a better feel for your property but also put their own mark on it once they do actually move in.
How Do You Attract Long Term Renters?
Although some landlords prefer to rent to students and young professionals, demographics that typically look for shorter rental periods, obtaining a tenancy that runs for an extended period will offer the landlord somewhat guaranteed rental income for the established period. Of course, tenants could fall into arrears, but with longer tenancies landlords save themselves the incredibly time-consuming, not to mention expensive take of marketing their property and beginning the search for new tenants.
Generally speaking, landlords that present unfurnished rental opportunities will typically see more success in trying to make their rental property more appealing to long-term renters. This will not only save the landlords a great deal in repairs and maintenance but also allow renters to make the accommodation feel more homely after introducing their own belongings, alongside the costs of moving furnishings often deterring renters from short tenancy periods.
As previously mentioned, the dismal number of landlords that are currently offering pet friendly rentals will likely see those that are fortunate enough to find a home alongside their furry friends remain in the property for far longer, simply because of the scarcity of available opportunities.
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