What Renters Want
Are you a landlord in the private rental sector (PRS) and hoping to charge a premium rent? Then you had better ensure your bricks and mortar investment is up to standard – especially since tenants are demanding more from their rental properties.
The reason for this is because many young professional individuals, couples and families are planning on renting long-term. Understandably, they’re not prepared to put up with the typical student flats of yesteryear.
For some people, long-term renting is a lifestyle choice, for others it’s a necessity, thanks to the current high cost of property. Then there are the high mortgage lending standards as a financial hang-over from the last recession.
So, what are today’s tenants demanding from their rental accommodation? Well, here is a list of some of the demands we have come across at Clan Gordon in recent years:
This is a ‘must’ in recent years, and not just for young professionals; just about everyone spends time online on a daily, if not hourly basis. Slow connections are just too infuriating and in the days of fibre cable internet provision, really shouldn’t be a problem. Ensure the internet provider is up-to-scratch too – or let your tenants choose their own.
Not only do tenants want to be able to monitor their heating so that they pay less when it comes to their utility bill, they also want the convenience of setting it to suit their lifestyle. Then there is the fact that they’re not wasting the planet’s valued resources. And on that note…
It’s not just homeowners who like living in a property with solar panels, tenants do too. Some also like the idea of ground or air source heating options and properties with A or B EPC ratings.
So many individuals are working from home these days that for some, having an additional room they can use as an office can be crucial. This is especially the case when children are around.
A private bathroom attached to the main bedroom isn’t an unusual request in the times of professional renters and many tenants will be looking for this too. It doesn’t take much money to add an en-suite to a bedroom and considering the difference it could make to some tenants, it’s probably well worth it. After all, a happy tenant tends to be a long-term tenant…
This is also a big winner, especially in busy cities such as Edinburgh where traffic wardens are super-vigilant. If there isn’t a garage or driveway connected to your buy to let property then perhaps there are parking permits that tenants can buy? Having to fork out for parking isn’t ideal, but it’s better than having the car towed away.
Credit score validation.
It’s now possible for tenants who always pay rent on time to have their credit rating boosted. There are services out there who will report regular monthly rental payments by tenants to the data compiling website Experian.
Here at Clan Gordon we’re always interested in feedback from tenants as well as landlords. Let us know what your priorities are.