Tenants want a home, not just a house

THE private rental market is as popular as ever.

Whether it’s a simple case of the affordability of buying; as a stop gap whilst becoming familiar with a new area; or simply an appreciation of the flexibility that renting affords, the strength and value of the private rented sector cannot and should not be underestimated.

However, if you’re either an existing or would-be landlord, it’s worth remembering that tenants no longer look for simply a house but instead a home.

What this means for you is that by investing the time (and sometimes extra finances) in extra attention to detail when preparing your property to let, it can pay dividends when securing your new tenants.

And this doesn’t have to be difficult.

Simply, fresh décor, modern fixtures and clean lines will all help to attract a better quality of tenants who will want to stay in your property longer.

This means less likelihood of void periods and the consequential loss of income to you.

In our experience, a tenant looks for the same in their new home as anyone else.

For many, location will be a key consideration.

Those with children tend to go for homes big enough to suit their family needs with a layout that offers open plan kitchen-diners and proximity to the catchment area of desirable schools.

Young professionals, meanwhile, go for contemporary style and if they commute for work they will look for properties with good transport links or close to local employment opportunities.

They will also want a house they can be proud of.

What this means for you as a landlord, is that you need to tailor your property to your target audience and take a minute to think what they would expect – you can’t and shouldn’t try to be all things to all people.

Rental prices in the area are increasing and with tenants spending a large percentage of their wages on housing, they expect ‘the best’ and reserve very little room for compromise.

With your market defined and your property offering what they desire, you’re already putting yourself in a positive position.

It’s not unusual to have three offers on every property so you’ll be able to choose the tenant that best suits your needs too.

Demand is high for all types of properties in Stroud and the surrounding areas and with our lettings team having a combined experience of over 20 years, we are here to assist you and ensure that your property gives you the best return possible.

Visit us at our King Street branch or visit andrewsonline.co.uk