Landlords nowadays are under immense pressure to make their property stand out on a competitive lettings market; fortunately as a landlord, you don’t need to spend a pretty penny to make your property appealing and desirable.
Presenting your property can be made much simpler once you figure out who your ideal tenant is. Each type of tenant has their own preferences, but do you know what they are? Here are the average personas of the typical tenants:
Employed sharers and couples
Employed sharers are typically 20-30 year olds who seek clean, modern living with decent sized bedrooms. They’ll likely prefer a furnished or partly furnished property that’s in a good location – especially an area which is close to transport links. Other things that appeal to employed sharers include:
- Good value furniture
- Laminate flooring
Employed couples however tend to seek longer tenancy terms than sharers, especially considering the obstacles first time buyers face; they often rent for longer since they can’t afford to buy. Couples wanting a second bedroom don’t necessarily need it to have a double bed, but the fixtures and furnishing should remain similar throughout. Most employed couples already own furniture so are more likely to take on an unfurnished property.
One of the biggest factors to keep in mind when attracting families is location, probably more so than any other tenant type. Properties that fall into a catchment area of good schools will appeal to families. They are also more likely to want an unfurnished property; with three or more bedrooms depending on how big the family is (smaller bedrooms are fine for children). Large bathrooms, kitchens, a higher quality of fixtures and fittings, and space for parking are all big bonuses for attracting families as well.
Students are usually on the hunt for bigger properties with three or more bedrooms that can be shared with friends. There is however a smaller minority of students who want a studio flat close to their campus. Students prefer a property that’s simple and practical instead of one that’s visually pleasing, as well as somewhere that’s completely furnished, including the addition of a desk.
Many students may also be looking for a living room which can convert into another bedroom, so keep this in mind when buying furniture. More specifically, hard wearing carpets, practical bathrooms and simple kitchens go a long way to attracting students.
Will you be making any of the changes above to enhance your rental property? Let us know on Twitter @haart_uk!