Landlords - What Do Tenants Look For When Renting?As a landlord, one of the most crucial steps in successfully filling your property is knowing your target tenant inside out. Understanding the specific criteria and preferences of the demographic you aim to attract can make all the difference in finding the right renters for your property. So here at E&M we are giving you the ultimate guide, lets delve into the diverse criteria that different tenant groups prioritise and how you can cater to their unique preferences to create a desirable living space that attracts and retains tenants.First off lets look at Landlords aiming to rent out to students :Location:Students prioritise convenient locations close to their university or college campuses, with easy access to public transportation whether that's trains or bus routes, and close to amenities like supermarkets, restaurants, and entertainment venues.Affordability:Affordable rent is key for students on a budget. They seek properties with inclusive rent or transparent pricing that fits within their financial constraints, considering factors like utilities and internet costs.Safety and Security:Safety is a top concern for students. Properties with secure locks on outer doors and bedrooms are a must, with well-lit entrances being a great touch.Furnishing and Amenities:Fully furnished properties save students time and money. They look for essential amenities like a bed, study desk, and storage space. Additional perks such as high-speed internet, laundry facilities, and communal areas are a bonus.Study Space:A quiet and well-lit study area is vital for students to focus on their academic work. Properties with dedicated study spaces or the potential to create one are highly desirable.Social Spaces:Students value communal areas where they can relax, socialize, and unwind. Properties with shared living rooms, kitchens, gardens, or balconies foster a sense of community among housemates.Maintenance and Support:Responsive landlords who address maintenance issues promptly and provide clear communication channels earn students' trust. Offering a reliable point of contact for repairs and other concerns is essential for a positive rental experience. Whether this is direct through the landlord or through a managing agent - ensuring the property is up to code and standard is key.Internet Connectivity:Fast and reliable internet access is a non-negotiable for students who depend on the internet for research, online classes, and staying connected with peers. Properties with stable Wi-Fi or the option to upgrade the connection are preferable.At E&M Property Solutions we find high quality HMO accommodation gives students everything they need. A secure, fully furnished room, with a dedicated work space, ample storage, and a comfortable bed. A communal Kitchen/ Living / Diner so they can socialise with other students. Adding a touch of style and decor to liven things up really adds to the desirability and longevity of the tenants. Of course HMO’s come with household bills included, complimentary wifi and for ones that we manage a communal cleaner just to sweeten the deal. It’s those added touches that let the tenant know you appreciate them choosing to stay in your property and that you want them to be happy there.How about Landlords aiming to rent out to young professionals or single people:Proximity to Work:Young professionals value properties that offer a short commute to their workplace. Being close to business districts or office hubs saves time and reduces stress, making properties in proximity to work locations highly desirable.Modern Amenities:Properties with modern amenities like updated appliances, energy-efficient features, and contemporary designs appeal to young professionals. They seek comfort, convenience, and a sleek living spaces that reflect their lifestyle.Connectivity:Fast and reliable internet connection is a must for young professionals who often work remotely or depend on online resources. Properties with high-speed internet capabilities or access to fiber-optic networks are a priority for staying connected.Fitness and Wellness Facilities:Health-conscious young professionals appreciate properties with on-site fitness centers, bike storage, or proximity to parks and outdoor recreation areas. Access to wellness amenities supports their active lifestyle and work-life balance.Professional Networking Opportunities:Properties in areas with networking opportunities, business events, or coworking spaces are attractive to young professionals looking to expand their professional circle and engage in career development activities outside of work.Transportation Options:Access to public transportation, bike lanes, or designated parking spaces can significantly impact a young professional's decision when choosing a property. Convenient transportation options make commuting easier and contribute to a seamless daily routine.Work-Friendly Environment:Properties with dedicated home office spaces, quiet corners for remote work, or proximity to coworking spaces cater to young professionals who value a productive and professional environment for their work tasks outside of the office.At E&M Property Solutions we have found that young professionals, tend to prefer HMO Accommodation for the ease of budgeting - inclusive bills, wifi and fully furnished rooms. These need to be in the right areas within close proximity to their work, chose properties near hospitals, factories, retail and business parks, town centres etc. Some young professionals do prefer the privacy of having a flat or bed sit, so these are a great option too. Landlords make the most of what you can offer!FInally we’ll take a look at what families look for when renting a property:Of course families come in all different shapes and sizes, we might be talking about a couple, a single parent family, a couple with children, or even a home for the extended family. But we’ve narrowed it down to the key factors that these groups tend to be looking for.Safe Neighbourhoods:Families prioritise safety when choosing a rental property. Proximity to good schools, low crime rates, and well-lit streets are key indicators of a secure neighborhood that offers peace of mind for parents and children. If there are houses with boarded up windows, broken glass on the pavements, excessive litter, these things are a big deterant! On the other hand houses surrounded by other family homes, green spaces, parks and schools are what this demographic are looking for.Spacious Living Areas:Families require ample living space to accommodate their loved ones comfortably. Properties with multiple bedrooms, bathrooms, and storage options are favored, providing room for children to play and grow within a nurturing environment.Child-Friendly Amenities:Rental properties with child-friendly amenities such as playgrounds, parks, or community spaces close by, cater to families with young children. Outdoor areas for recreation and socialization enhance the overall experience of living in a family-friendly environment.Educational Opportunities:Proximity to schools, play groups and nurseries are essential for families with children. Rental properties located within reputable school districts or with access to educational institutions offer added value.Pet-Friendly Policies:Many families have pets as part of their household, making pet-friendly rental properties highly desirable.Outdoor Spaces:Properties with outdoor spaces like gardens, backyards, or balconies provide families with opportunities for outdoor activities, gardening, and relaxation. Access to green spaces within the property enhances the quality of family life and promotes outdoor engagement.Accessibility and Convenience:Rental properties located near essential amenities such as grocery stores, healthcare facilities, parks, and family-friendly entertainment venues offer convenience and accessibility for busy families. Proximity to daily necessities enhances the overall convenience of the location.A Responsive Landlord:Families need their homes to be in top condition and up to code. Raising children in damp or dangerous conditions is not an option, being able to communicate any issues with the Landlord or property agent is essential, as is having any issues fixed quickly and efficiently.E&M Property Solutions understands the unique needs and preferences of families seeking rental properties. By prioritising safety, space, amenities, and community features that cater to families, landlords can create inviting and nurturing environments that families are proud to call home. Whats more family accommodation rarely needs to be furnished as families tend to have their own furniture and want to put their own stamp on their home. Landlords also don’t need to worry about paying the household bills as this is left up to the tenant as well. Things that are definitely worth looking into and thinking about.So there you have it - landlords get to know your demographic. Look at where your property is and what its close too. Does it lend itself to being converted into HMO accommodation? Is there an amazing family garden? Does your property need bringing up to scratch or modernising in order to ensure the longevity of your tenants. We hope we’ve given you plenty of things to think about, and as always if you’re unsure, get in touch with us and we will be happy to give you our honest opinion and advice.
