TOP TIPS FOR LANDLORDS TO ATTRACT THE BEST TENANTS

The last year or two have very much been a seller’s market in the residential lettings market, with as many as 20 applicants for every vacant home offered, writes Lara Whattam. 

But that doesn’t mean that landlords shouldn’t be making an effort to attract tenants, both because the market will always readjust eventually, and even in the current environment, the quality of your tenant is very important.

So how do you go about attracting the best tenants?  What factors are most commonly asked for by applicants?  Knowing this can help you prepare and market your property to ensure yours is the most sought-after.

They say that first impressions count, and this is equally true when attracting tenants.  They want to see a well-presented, well-maintained and clean property, ideally with fairly neutral decoration – save the quirky individualism for your own home!

Secondly, the impression the landlord themselves give is important.  Tenants want to know that their landlord is going to be responsive, both when problems occur, but also in terms of being flexible in accommodating requests (such as being able to keep a pet).  The old adage that ‘people buy people’ is as true in the rental market as anywhere else.

Location is of course vital.  Prospective tenants will be looking for a home which is convenient for their daily lives, so close to work, with good schools nearby, and with decent transport links available.  With increasing numbers of people foregoing a car, having good amenities such as shops in the immediate vicinity is also a plus.

Energy efficiency is an increasingly big factor, both for environmental reasons and because an energy-efficient home is cheaper to run.  Currently all rental homes must have an EPC of at least ‘E’; but homes with even better levels of sustainability will be in demand.

With the seismic change brought about by Covid, space is much more sought-after than it was five years ago.  Tenants may well want their home to have a useable space to work from home, and the importance of outside space was very much brought into focus by lockdown – and that has not really diminished since life got back to normal.

The sixth thing that tenants want to see is a quality kitchen and bathroom.  For those taking short-term lets, a well-equipped kitchen is important, because they won’t want to be providing their own dishwasher or washing machine.  And for all tenants, a good shower with decent water pressure is a must – few people have time to wallow in a bath these days.

Finally, an allocated parking space is a big draw, especially in the city where on-street parking might be limited and tenants may not have access to street parking permits.  If your property comes with a visitor’s permit, even better.