Four ways to help landlords attract more tenants in the current market

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Four ways to help your landlords attract more tenants-min

Guest blog by Goodlord, a property lettings software that improves the renting process for agents, landlords and tenants alike.


 

Tenant housing priorities have shifted as a result of Covid-19. Estate and letting agents who rethink the way they position their properties could help their landlords find and retain the best tenants, according to current market demands.

More than half of the tenants surveyed in Goodlord’s State of the Industry Report 2020, Vol II think they’ll still be renting in the next five years, and nearly a third considered moving home due to the pandemic. Remote working has had a substantial impact on the requirements of said movers and this trend will likely continue. Slack recently surveyed 9,000 workers and discovered that 72% would prefer to mix remote and office-based work in the future. So, how can you capture this market by positioning properties in the best possible light?

1. Bring in-demand features to the forefront of your advertising

Tenants are upsizing their living arrangements, as ample living space became a priority after an extended period of home working. Between May and August, more than a third of tenants that moved home added at least one additional bedroom, up from 25% in the first three months of 2020. The need for more space has influenced where tenants are moving, and London and other large cities are seeing lower demand, as tenants move out of city centres past the commuter belts where they can get more for their money.

Location and size of a property are not something easily remedied. However, there are ways you can help your landlords to promote their property, starting with making sure their marketing’s up to scratch. Taking photos on a bright day or making sure everywhere’s clean and tidy are obvious in property listings. The copy should paint a picture of the property and what it would be like living in the area.

Don’t just list the features, show the benefits of each. Highlight the top selling points for the current tenant profile. There’s no point in having a feature that tenants will find most attractive if you don’t make sure they know about it. For example, kitchens are falling down the priority list, so boost the garden picture to the forefront – even a communal garden space should be highlighted. Does it have air con? The summer months confined at home have pushed this up the priorities list.

2. Rethink the amenities you choose to highlight

Requests for properties with gardens or near to large parks are on the rise. A 2020 Direct Line survey found that 73% of estate agents believe that a home office can make a property more attractive, and nearly 80% of Savills agents also reported an increase in demand for properties with a separate space to work from home, with “strong WiFi or internet connection” as another top tenant requirement.

Show off what’s within walking distance for tenants. If the property doesn’t have a garden but there’s a park nearby, lead with that. It may be in a big city, but is it on a quiet street where remote working will be bliss? Social amenities, such as cinemas or gyms, aren’t considered as important for tenants as they once were – but are there plenty of cafes with good internet connection nearby?

3. Invest in some small wins

Security seems to be a mainstay in the list of tenant priorities, so, if you can, why not encourage your landlords to invest in additional security features? These will make properties, in cities in particular, stand out.

Green energy upgrades are an additional selling point to climate-conscious renters, so why not highlight if your property’s already with a green energy provider, or if you offer a utility switching service? A lick of paint is a cheap way to show the tenant that the landlord cares for the property – and for them as tenants. And, if you do have one of the top features, such as a garden, that can still be spruced up to make the decision a no-brainer.

4. Take advantage of the boom in pet ownership

The government aims to make it easier for tenants with pets to find properties to rent, having updated the Model Tenancy Agreement so “consent for pets will be the default position” and landlords would have to provide a “good reason” to reject a tenant request to accommodate pets. At the same time, pet sales have boomed during the pandemic – so why not embrace this change? Surveys show that only 7% of landlords advertise their homes as suitable for pets, while 40% of UK households own pets. Your landlord should take both sides of the argument into account and consider if they have the right to welcome pets into their property, as a freehold or leasehold ownership may restrict this, but this option could open the door to a number of tenants who may not have previously considered the property. You’ll have a unique selling point over competing agents in the local market and you’ll find tenants for your landlord’s property more easily.


Guest blog by Goodlord, a property lettings software that improves the renting process for agents, landlords and tenants alike.

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