As a landlord, it's important to understand the needs and preferences of renters in order to provide them with a comfortable and enjoyable renting experience. By keeping informed of what renters want when it comes to searching for a property in Preston, you can create a home that is attractive to potential renters and increase the likelihood of a long-term tenancy. This can help you to maintain a high occupancy rate and a steady stream of rental income.
One of the benefits of understanding what renters want is that you can use this information to make improvements to your Preston rental properties or what you as an investor need to be looking for when purchasing a buy-to-let property. For example, if you notice that many of your tenants are asking for built in storage, you may want to consider adding this feature to your properties. This can not only make your properties more attractive to potential renters, but it can also help to increase their overall satisfaction with their living experience.
In addition, keeping track of what renters want can also help you to stay ahead of the competition. By offering features and amenities that are in high demand, you can differentiate your Preston properties from others in the market and make them stand out to potential renters. This can help you to attract higher-quality tenants who are more likely to take care of your properties and stay for a longer period of time.
Below are the top 10 things that tenants are prioritising in their rental property searches in 2023.
Open plan living
The versatility offered by open plan living and the existence of a large communal area that is perfect for both gatherings and busy family life is highly sought after by tenants.
Working from home is no longer unusual and as a result many tenants place a lot of value on having an office space that is separate from the rest of the home.
Efficient, sleek and modern kitchens have been topping tenants' must-have lists for several years now.
Space is important to tenants. Pantries offer the ability to create space in the kitchen by storing everything you need in there. They are perfect for stashing away a large weekly shop or for hiding away bulk buys with ease.
Providing extra surface space, storage and an attractive focal point, kitchen islands are high up on the list of desirable features for many tenants.
Tenants are looking for properties that feel spacious and storage is key to this. Ample built-in storage is very attractive to tenants.
Durable, easy to maintain and long lasting, it is easy to see why hardwood floors are popular with tenants.
Outdoor Entertaining Areas
Areas to socialise in have been especially important for tenants since the pandemic and outdoor areas to host gatherings in are particularly popular.
Post-pandemic tenants place a lot of value on having space at home to undertake DIY projects or simply store their belongings without them encroaching on their living area has soared.
Soaring energy bills, the rising cost of living and an awareness of our individual contributions to climate change has meant that properties with EPC (energy performance certificates) ratings of C or above are attracting more attention from potential tenants than properties with a large carbon footprint.
Finally, maintaining a good relationship with your tenants is an important part of being a successful landlord. By taking the time to understand their needs and preferences, you can demonstrate your commitment to providing an outstanding renting experience. This can help to foster a sense of trust and loyalty between you and your tenants, making it more likely that they will be content in your property and not want to move.
If you are considering letting your property in Preston, Leyland, Chorley or surrounding areas please do give us a call on 01772 284606 or email firstname.lastname@example.org and see how we can help you.