Buy to Let property investment is a competitive field, and there are certain things that can make a real difference to prospective tenants. To get the best tenants, there are several measures you can take to really make your rental property stand out.
Kitchen and Bathroom
The kitchen and bathroom are two of the most important factors when it comes to a rental property. Other areas of the property can be changed and altered by the tenants but these two will remain for the whole tenancy.
If you’ve had previous tenants, it is essential that the kitchen and bathroom are properly cleaned, and any maintenance is carried out. If you’re purchasing a new rental property, then making sure the kitchen and bathroom are of top quality is a great way to impress prospective tenants.
Choose good quality fixtures and fittings that will last for the whole duration of the tenancy. It is best to go for a neutral, monochrome or pastel coloured bathroom in soft hues that can appeal to a wide range of tenants.
What Do Your Tenants Want?
It is also vital to make sure you know what your tenants want. Different types of property appeal to different types of tenants and it is essential that you know what your tenants are looking for.
A recent in-depth report looked at what different age groups and households are looking for from their rental property. The insights on the different demographics, like the fact that 48% of house sharers aged 25-49 would consider paying a premium for a fully furnished property, can help you tailor your offering.
If you’re trying to appeal to families over 35, then it is worth considering an en-suite as 39% would pay more for this, or if you’re looking for long term tenants, it’s worth targeting older people who want to rent rather than buy.
Embrace Smart Technology
Smart technology has been changing the way people live in their homes, and landlords can also use technology to appeal to tenants. Making smart upgrades doesn’t have to be an all-out expensive process. Simple upgrades like a voice assistant can really give a property the wow factor, and they are an inexpensive and useful feature.
Another great way you can introduce technology into your rental property is by installing a smart meter. These allow tenants and landlords to measure how much energy is used in a property, allowing them to make savings and reduce their energy use.
First impressions matter and the same is true when it comes to rental property. Making sure your property looks attractive from the outside is also important. New build properties with great design like those by RW Invest are perfect for making a good impression. Outside spaces like landscaped gardens or balconies, as well as your hardscaping features should be in great condition. For instance, doors should be freshly painted, hedges trimmed and for any features installed, such as flagpoles, you will need the flagpole hardware to be well maintained. If you have damaged or worn out fence panels, hire a fence repair contractor to fix them. You want the property to really stand out as a beautiful future home.
Energy efficiency and environmental impact are becoming increasingly important to people in the UK. To appeal to these tenants, landlords can take energy efficiency measures like LED lightbulbs, crawl space insulation and double glazing. In a recent survey of tenants, a huge 80% said that landlords should pay greater thought to the environmental impact of their property. If landlords can assure the tenants that they have taken environmentally friendly measures, they can encourage a wider range of tenants to let the property.