The list of things tenants dream about would be far too long to write about. However, you’d notice that logistics would be featured time and time again.
Aside from the blindingly obvious which are good value for money, close to transport links, in a safe area with bars, restaurants and shops around, there are a few more points that modern day tenants consider.
Take hot water and water pressure for example. Something most of us take for granted, but landlords are finding that more and more prospective tenants are testing taps on viewings to ensure the water pressure is up to scratch and that it heats up quickly.
Furthermore, people generalise. It comes with human nature unfortunately and it can be one of our biggest downfalls, especially as a landlord. In the 1980s and 1990s, most tenants were students or fresh faced graduates however nowadays, as the average age for buying a property has shot up, the age range of tenants has widened. Landlords therefore need to study the demographic of the area so they can invest in a property that will be popular with that demographic. For example student areas mean that 4 or 5 bedroom houses are popular. Young professionals tend to gravitate towards 2 or 3 bedroom flats.
On the whole, tenants are of a much higher quality that in the 1980s and 1990s and landlords have noticed a trend that tenants are staying in their rental properties for longer. Therefore, they look for properties that they can see as being a ‘home’ and properties which are clean and have natural décor are most popular. An attractive property with reasonable rent will have much shorter empty periods, the landlord will have pick of the tenants and so can opt for a good tenant who will keep the property in a excellent condition and hopefully stay for longer.