The London rental market is hotting up, and summer is an ideal time to attract stable, long-term tenants who are looking to get settled before the autumn. To get ahead of any void periods later in the summer, which are more common as people go on holiday ahead of the new school or university term, it is a good idea to act now.
Long term tenants are more likely to look after your property, and it reduces the hassle of handovers and the risk of finding your property empty. However, desirable tenants will have high standards, so it’s important to go the extra mile so that your property and also your terms and conditions are appealing to them. Here are some useful tips.
Provide practical and neutral furnishings and decor
Busy professionals don’t want to spend a lot of time sourcing furniture or re-decorating a rental. Keep colour palettes neutral so they can put their own stamp on the property, and invest in good quality basics such as a bed, wardrobe and dining furniture. It is expected that a rental will include white goods in full working order.
Many professionals also now work from home some or all of the time, so consider including a desk and ergonomic chair. Other sought-after features include ample storage space and superfast broadband internet connections.
Be prompt and professional
Landlords can get a bad rep, but if you are prompt and professional in all of your dealings, you are likely to attract a higher calibre of tenant who will want to stay for the long term.
Consider appointing a letting agents such as our service in Hackney if you are short of time. This will ensure that enquiries and maintenance issues are dealt with quickly, and it will maintain a positive relationship with your tenants.
Be pet-friendly if you can
Not all landlords are open to the idea of pets, but being pet friendly will increase your potential pool of tenants. Pet owners look for features such as hard flooring that is easy to keep clean, and secure gardens or yards.
If you have concerns about wear and tear, include clauses in the contract setting out terms and conditions, and consider an extra deposit or slight rent premium. There are advantages to having a pet owner, as they are more likely to be looking for a long-term let to provide a stable home for their pet.
Invest in energy efficiency
Energy bills now take up a much larger portion of the average earner’s salary, so naturally renters will be looking for a property that has relatively low energy bills. Ideally, the property should have an EPC rating of C or above, double glazing, and modern, energy efficient appliances.
Allow for reasonable personalisation
Personalisation helps to make tenants feel comfortable and at home, so allow for reasonable and reversible adjustments, such as hanging wall art, installing shelves or repainting (in approved colours).
