With the wide choice of rental properties now available tenants can afford to shop around for that ‘perfect’ property.
But, what are tenants currently looking for in a rental property and how can you make sure they will want yours?
Proprietor of Belvoir Bournemouth Kate Jackson says, “Tenants are looking for good value accommodation that isn’t dated. The property must be in top condition and all safety laws must be adhered to. Added to this, the property should be warm and energy efficient with plenty of storage – and the tenant must have confidence that any problems during their tenancy will be dealt with effectively and swiftly by the landlord or agent.”
Ensure your potential tenants feel at home by asking yourselves the questions about your property that they will inevitably be asking themselves too...
√ How much can I afford to pay?
Make sure your property is competitively priced for the area and look to reduce the rent you’re asking if necessary. In the current climate all prospective tenants will be looking at their budgets and calculating what they will have to pay each month, including bills. Some savvy landlords are even offering the first two weeks rent free to ensure a quick let. Kate adds, “In the current climate we’re finding a lot more tenants are putting in offers on rental properties and all these must be considered by the landlord.”
√ What’s the location like?
They often say location is everything when buying a house... and renting one is no exception! If looking to invest in a buy-to-let, search in low-crime areas with good transport links, such as a major road network or a train station nearby. Think about what the area is like and visit the neighbours to find out what it’s like to live there.
And, remember, areas with universities, hospitals or major industry are likely to be densely populated with people looking for temporary homes.
√ Are their any local amenities?
Potential tenants will want to know that they can enjoy their chosen lifestyles with ease, so ensure that there are good range of amenities, such as schools, restaurants and shops nearby.
√ What condition is the property in?
Tenants will be put off by properties in a poor condition so give your property a face-lift – whitewash interior walls and clean the carpets. Crumbling paint or signs of damp are going to send potential tenants straight back out your door. The structure of your building is important too – leaning walls, large cracks and leaky gutters won’t help you let the property quickly either. Kate says, “Tenants are now just as picky as owners – ensure your property is in a good condition, neutrally decorated and has a modern kitchen and bathroom.”
√ Are the appliances in good working order?
Potential tenants will not only be inspecting the interior and exterior of your property - they will also be taking a close look at the appliances you’re supplying. Kate says, “Tenants are definitely looking for good quality white goods and, wherever possible, a microwave and dishwasher too – ensure your appliances are modern and in good working order before marketing the property.”
Take a walk around your property and consider the following:-
• Are there enough telephone points?
• Are their sufficient kitchen utensils?
• Is the shower more than a dribble?
• Is there a dishwasher and microwave?
• Does the toilet flush easily?
• Are the fridge and freezers big enough?
√ Am I going to be warm?
Potential tenants will be looking for a good central heating system and they’ll want to know all the radiators actually work too.
Good insulation is also essential. Double glazing, well-fitting doors and windows and roof and wall insulation will all help to keep your tenant warm, as well as saving them money on their gas and electricity bills.
√ Is there going to be enough room?
Are there built-in wardrobes? Big enough work-surfaces? Sufficient kitchen units? A tenant will want to know that they’ve got enough room to live comfortably. You can’t make a small house bigger but you can come up with clever storage solutions to make living in a small space appear more appealing. Kate says, “Plenty of storage is always a good thing to offer.”
√ Am I going to be safe?
Make sure that a prospective tenant will feel safe at your property by doing the following (and, remember, many of these things are legal requirements too!):-
• All soft furnishings should be labelled as fire resistant
• Fitting a burglar alarm
• Point out the carbon monoxide detectors
• Fitting five-lever mortice locks and window locks
• Providing a safety blanket and a fire extinguisher
• Make sure the smoke alarms work
• Ensure all electrical appliances have been PAT tested
• Provide copies of your gas and electric certificates
√ What happens if I have a problem?
Make sure your potential tenant knows that you are there to help and will try to fix problems and do minor maintenance as quickly and efficiently as possible. You may even want to leave them emergency contact numbers for local plumbers or handymen.
Kate adds, “Additionally, if your property is fully-managed by a good property management agency, such as Belvoir, it will give your tenants the confidence that problems will not only be dealt with swiftly but also helpful advice will only ever be a phone call away.”
To find your nearest Belvoir office, visit their website at www.belvoirlettings.com
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