As rental demand increases across the United Kingdom, standing out as a landlord has never been more important. With approximately 45% of adults in the UK already renting out properties, the competition is challenging. So, how can you make your rental stand out and be the one tenants pick?
Today's tenants have high expectations and won't settle for anything less than homes with energy-efficient upgrades and trustworthy high-speed internet. To attract top-tier tenants and ensure a consistent income from your rental properties, meeting - and even exceeding - modern benchmarks is essential.
In this guide, we'll examine today's renters' preferences and explore practical strategies for enhancing the charm and competitiveness of your rental property in this dynamic market. Let’s turn your rental into a must-have home for the modern tenant.
Practical Steps to Make Your Property Stand Out
Here are some practical steps you can take to make your property stand out:
Step 1: Modern and Energy-Efficient Homes Attract Tenants
As the living cost continues to climb, renters in the UK are becoming increasingly aware of their energy expenses. Numerous individuals are now actively hunting for places with top-notch energy efficiency to save some money and do their bit for the environment.
If you want to make your place more enticing, think about doing things like:
- Improving the insulation and putting in double-glazed windows.
- Fitting smart meters and energy-saving lights.
- Boosting your EPC (Energy Performance Certificate) rating.
These upgrades will not only draw in renters who care about the planet but also allow you to bump up the rent a bit.
Step 2: Stylish and Well-Maintained Interiors Make a Difference
It's crucial to remember that first impressions count. Renters are looking for a place that feels new, contemporary, and welcoming. A tired or overlooked interior can quickly put someone off, even if your property is in a fantastic location.
Reports from Carter Jonas found that 72% of UK renters value modern and well-kept interiors when selecting a place to live. This underscores how crucial it is to refresh a property’s interior to appeal to and keep good tenants.
There are some easy but effective improvements you can make, like:
- Applying a new coat of neutral paint makes the space feel lighter and more open.
- Modern flooring, such as laminate or carpet, should be installed in critical areas.
- Updating the kitchen and bathroom fixtures to a more current style.
Another thing to consider is providing the option of a partially furnished home. Several renters love the ease of moving into a place that already has the crucial furniture taken care of.
Step 3: High-Speed Internet is No Longer Optional
As remote and hybrid work arrangements become familiar, a fast and reliable internet connection has shifted from a mere luxury to an absolute must-have. Properties lacking broadband may have difficulty attracting tenants, especially professionals and students.
To remain competitive, make sure your property offers:
- Fibre-optic broadband or the quickest internet connection available locally.
- A transparent indication of internet speeds in your property listing.
- Wired ethernet connections in essential rooms, if feasible.
Step 4: Pet-Friendly Policies Open Up More Opportunities
More and more people are looking for places to rent that welcome their furry friends, but many landlords still say, "No pets allowed." A study in 2024 found out that only 7.1% of rental properties in 15 major UK cities allowed pets. In some towns, only 2% of rentals were pet-friendly. Opening doors to responsible pet parents can mean more choices for tenants and residents likely to stick around longer.
If you're concerned about possible disarrays, consider doing these things:
- Ask for a refundable pet deposit that they can get back if things are okay when they move out.
- Make sure everyone knows the rules when it comes to how pets should act and keep the place in good shape.
- Use floors that are easier to clean, like laminate instead of carpet.
Letting pets inside can benefit everyone involved - your renters will be thrilled, and you'll have a steady stream of rent money coming in.
Step 5: Outdoor Space and Storage Are Big Selling Points
Nowadays, renters really appreciate having some outdoor space, whether it's their own garden, a balcony, or just a communal courtyard. Even some greenery can make a big difference in your property's attractiveness.
Also, storage space might not always be the first thing you consider, but it's important to many renters. People are often looking for:
- Wardrobes that are built in to save space.
- A safe place to store their bikes, especially in the city.
- Extra storage like sheds or more cupboards for all their stuff.
Making a few changes to add more storage helps your rental property stand out.
Step 6: Responsive and Professional Property Management Matters
Beyond the look and feel of a home, tenants appreciate dependable and quick-acting property management. Nobody wants to spend weeks arguing with a landlord about a broken boiler or a dripping tap.
To make sure your renters are happy, ensure of this:
- Repairs and requests for maintenance are dealt with swiftly.
- Keep communication clear and professional.
- Tenants should feel like they've got backup during their entire lease.
If maintaining your property feels too much, a professional management service might be what you need.
Transforming your home into a rental property can be a smart financial move. If you need support managing your rental investment, City Borough Housing can help streamline the process.
Conclusion
To attract today’s renters and increase profits, concentrate on what they want. Consider making your property energy-efficient, updating the interior for a modern look, or being more welcoming to pets. These thoughtful modifications can make your rental a place everyone wants to live.
A property designed with great care and attention to detail does more than bring tenants in - it makes them want to stay. Keep up with the latest trends in the rental market, and you'll see your investment do well in today's competitive scene.
The time to act is now - make your property the one tenants are excited to call home!
