Top 10 Desirable Features Tenants Seek in Rental Properties
If you're in the market for an investment property, understanding what makes a property appealing to tenants is crucial. Here, we've compiled a list of the ten features that tenants prioritise when searching for a rental property.
Prime Location:
Location is paramount in a tenant's decision making process. Proximity to local transportation and amenities is a key factor. Easy access to public transportation and essential services like supermarkets, medical facilities, and schools is highly attractive, especially in urban areas where car ownership may not be common.
Security:
Safety and security are paramount for tenants. Properties located in safe neighborhoods with secure entry systems and possibly 24 hour security personnel or concierge services tend to attract high-quality tenants.
Age and Condition:
Tenants expect rental properties to be clean, functional, and modern. Newly built properties often offer the latest home comforts and designs, aligning with tenants' preferences for convenience and functionality.
Modern Appliances:
The condition of appliances is crucial. Newer appliances not only work better but also offer better energy efficiency, potentially leading to lower utility bills. Appliances with high energy ratings (such as 'A' ratings) are particularly appealing to tenants.
Outdoor Space:
Outdoor space, whether it's a balcony, roof terrace, or access to communal gardens, has become increasingly important to tenants, allowing them to enjoy the outdoors without worrying about maintenance.
Spacious and Well Lit Interiors:
Bright and spacious interiors are favored over cramped and dark ones. Modern properties are often designed to optimise space and natural light, attracting tenants seeking a comfortable living environment.
Ample Storage:
Tenants appreciate properties with sufficient storage solutions, including built-in wardrobes and well-equipped kitchens. Modern properties are typically designed with modern living needs in mind, offering ample storage options.
High-Speed Internet:
In today's world, fast and reliable internet is essential, especially for those working from home. Properties in urban areas usually have access to high-speed internet, but for remote locations or vacation homes, it's essential to research local internet speeds.
Professional Management and Maintenance:
Tenants value properties managed by reputable agents or landlords who prioritise maintenance. Having a reliable managing agent in place assures tenants that any issues will be promptly addressed.
Competitive Pricing:
Price plays a pivotal role in a tenant's decision. The condition, quality, and features of the property should align with the rental price. Overpricing can lead to extended void periods.
If you're considering investing in a rental property in the UK, keeping these tenant preferences in mind will help you make a wise choice. To explore rental investment opportunities that meet these criteria, please don't hesitate to get in touch with us.
