A recent survey revealed that tenants are looking to get more out of their rental properties and, as a result, they will no longer accept the bare minimum from their landlords.
The more the landlords provide for their buy-to-let properties, the more likely their tenants will stay long-term.
Having long-term tenants is beneficial for numerous reasons. An empty property is a landlord’s worst nightmare, as it will ultimately reduce your overall profit.
Therefore, it is no surprise that over one-third of landlords stated they would prefer their tenancies to last for three to five years.*
In light of this, here we have a few tips on how landlords can build a long-lasting relationship with their tenants.
- Be ‘’smart’’
Make sure you’re catering to your desired tenant demographic. For instance, 62% of tenants with children rated smart locks as significant, compared to 50% of those with no children.*
- Go green
With more tenants looking for greener properties, installing energy-efficient appliances and ensuring your EPC rating is as high as possible will no doubt increase your chances of finding a long-term tenant.
- Keep it flexible
60% of renters suggested that having a property with ‘’flexible space’’ is important in their search. Considering furnishing spaces with office equipment to attract more tenants.
Whether you’re a first-time landlord or looking to expand your portfolio, we’re here to help. Contact us today for further guidance on the lettings market.