What are Tenants Really Looking for in their Rental Homes?
Whether you are a Landlord considering expanding your portfolio by investing in a new property, or a Landlord preparing to re-let any of your existing investments, it is important to understand what tenants are looking for in their rental homes.
Of course, it goes without saying that different tenants have different needs but some of the most common factors that appeal to all kinds of tenants can be identified by the top ten keywords used by tenants when searching for properties online, as follows:
1. Parking 2. Garage 3. Pets 4. Furnished 5. Garden 6. Student 7. Bills included
8. Balcony 9. Bungalow 10. Detached.
Research has found that parking is the number one requirement for private tenants, with ‘garage’ closely following it in second place. While this may not be the most exciting feature of a home, this research clearly shows that Landlords can make their properties much more attractive by creating or enhancing existing parking. Whether they re-landscape their garden to include a driveway or apply to drop the kerb outside their house, these changes could pay dividends.
Pet-friendly rental homes are also growing in popularity, with the search term ‘pets’ ranking as the third most popular. So, if you are a Landlord who has routinely declined to consider tenants with pets, perhaps it’s time to think again? Pet ownership across the UK is on the increase and as tenants are often happy to pay a larger deposit, or a non-refundable ‘pet-fee’, what have you got to lose?
On a more regional note, tenants in the South West are after countryside dwellings, with ‘rural’ and ‘cottage’ featuring high on tenants’ wish lists – perhaps they’re looking for a larger garden to accommodate the dog that’s just become a part of their family!
Data was also analysed to reveal the most viewed size of rental homes and unsurprisingly, three-bedroom houses are the most frequently viewed properties across the board. They appeal to a wide range of tenants, including young families who are looking for space to grow, as well as downsizers who want a more manageable space that can still accommodate visitors.
So, Landlords, we hope you find the above useful when putting your property onto the rental market, but why not come and have a chat with us at ‘Iles & Jenkin’ first? We have plenty more advice and information that we would love to share with you, to ensure that your letting experience is both successful and positive!
Thanks for reading!