Is there such a thing as an ideal tenant?
The property rental sector is an ever-evolving industry where, as a landlord, you are expected to not only find tenants but understand their changing tastes and requirements.
Most landlords today do not even have a proper understanding of their target audience, let alone what they actually look for in a property.
Now, if you thought understanding the demographic makeup of your target audience will do the job, then think again. Knowing what your potential tenant needs is a prerequisite for building a solid strategy to attract perfect tenants.
While reaching out to potential tenants, you should be ready to look beyond the confines of your property, and look into external aspects like the neighbourhood, transportation, connectivity and local destinations. Little yet vital details like these may easily be the reason why a tenant shows interest in your property.
Our experienced property landlords like to classify the perfect tenant into three categories, namely, family, young professionals and students.
Let’s find out more about them in detail.
Why a family is your perfect tenant!
Amid the housing market growth, we are starting to see a proportional increase in the number of families opting for private rental homes. They clearly know what they are doing and how renting property will satisfy all their housing needs.
Now, most families operate with a clear agenda while house-hunting. As a landlord, your job is to identify the factors that feature high on their agenda and make sure to include them in your property. So, what does the average family look for?
Families like to have an off-street parking facility for various personal reasons. For instance, new parents welcome off-street parking option mainly because they prefer the safety and security it affords.
Property located nearby prominent schools and childcare may be of great value to parents who are planning on getting their children enrolled in any of those places. So, if you are aiming at families, make sure to do your research about the locations around your property and be sure to promote the details that will be high on a family’s agenda.
So, what are some of the things you could highlight…
Most families love spending quality time together in parks and other open spaces. If your property is equipped with such amenities, don’t hesitate to highlight them in your pitch. As far as families are concerned, nothing is more meaningful than laying back and letting their hair down in their own property.
Everyone wants to move to a place with a low crime rate. Nothing can be more unsettling for the parents of youngsters than living in a crime-ridden neighbourhood. Ideally, families wish to live in a safe neighbourhood that poses no threat to them.
Are young professionals the right for you?
Have you ever wondered why many landlords regard working professionals as their most ideal tenants?
If there is one thing young professionals of all stripes seeks, it’s a good work-life balance. Hence, they are always on the lookout for a special piece of property that offers a convenient commute and options to get the best out of their non-working hours.
The trend of businesses shifting their offices from the city centres to local places has resulted in young professionals populating the rental spaces in various regions. Landlords are gradually adapting to the change as they put in the extra effort to better understand the needs of young tenents.
So, how do landlords go about serving what they look for in the location of their choice?
Firstly, if you have a busy professional life, you will most certainly need an easier and more convenient means of transportation. Any property that offers them immediate access to public transport is preferred over the ones that don’t. Young professionals also take into account whether the property has easy access to major shopping malls and nightlife.
Most young professionals eye properties located nearby the best cafes, recreational centres and gyms in town as they don’t want to travel long to just let off some steam.
Young professionals are famous for juggling jobs and working remotely. So, it goes without saying that their idea of a good property should include high-speed broadband. Young professionals look for plug-n-play spaces that are pre-connected.
Students are central to the private rented sector
Student tenants form a sizeable chunk of the rental economy across the United Kingdom. Student based rentals continue to be a major source of revenue for landlords everywhere.
But are student tenants the right option for every landlord?
Well, they are not the most reliable tenants a landlord may wish for, and managing them could leave you with a real headache. Most student tenants come with a baggage of immaturity and are likely to behave irresponsibly. For a landlord, this may be a call to deploy code of discipline and stricter management guidelines for the student tenants.
As a student starts to take their first steps towards independent living, a landlord should be equipped to deal with the mess they may leave in the wake.
Anyway, what are the special features that draw students toward a particular property?
Most student tenants are interested in nightlife and all the fun that accompanies. Students will enjoy staying in some property that can offer quick access to the nightlife and major bars in town.
Most student tenants may not have a car. Hence, it will be highly beneficial for them to rent a property where everything is well within walkable distance; be it school campus, local mart or restaurants.
Including all these details in the advertising campaign will surely drive home your message with the target audience.
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