This article looks at what landlords can do to meet the growing expectations of their tenants.
Tenants are expecting a lot more from their rental accommodation these days. This has led to a general improvement in the quality of rental stock available, as landlords know they need to make sure their properties have the edge over similar properties in the area.
Every landlord knows how important it is to secure good tenants and to keep those tenants happy. From making sure the property is as energy efficient as possible to acting quickly should any maintenance issues arise, there are many things a landlord can do to meet the higher expectations of tenants.
As of April 2018, private rented sector landlords will not be able to let out a property if that property does not achieve an EPC rating of Band 'E' or above. This will apply to new tenancies and renewals. However, it will also apply to existing tenancies from April 2020 onwards. At present, tenants have the power to request that their landlord improves the energy efficiency of the rental property if it falls below Band 'E' in efficiency.
Tenants realise how important it is to rent an energy efficient property – the more efficient the property, the lower the energy bills. Tenants are attracted by the prospect of double-glazing, as this implies a warmer property and a reduced chance of mould, condensation or damp. Double-glazing also helps to insulate the property while reducing noise levels in the home.
When a property for rent is marketed, its energy efficiency rating must be published and made known to potential tenants. It is therefore in a landlord's best interests to make sure their rental properties are as energy efficient as possible, thereby making the property more appealing to tenants and reducing void periods.
Good quality fixtures and fittings
Fixtures and fittings, whether in the bathroom or kitchen, should be of good quality and fit for purpose. This doesn't mean you need to spend a fortune, just keep things simple, and make sure you choose fixtures and fittings which also enhance the aesthetic appeal of the house.
Modern kitchen and bathroom
Never underestimate the appeal of a modern, streamlined kitchen and bathroom. Generally considered to be the two most important rooms, tenants in London in particular, who can expect to be paying a higher rent, now expect a new kitchen and bathroom, or at least make improvements to ensure they both look at their best when prospective tenants view the property.
Reliable Wi-Fi connection
It's not only students who need to have access to reliable and fast Wi-Fi. We're all online these days, and most tenants will expect a reliable internet connection as standard. A property that doesn't have a reliable Wi-Fi connection will likely not encourage the tenant to stay long-term.
As well as fast broadband, a proactive landlord who reacts quickly when something goes wrong is expected by tenants, and rightly so. Landlords must make sure they meet their tenant's expectations by always responding and acting quickly should a landlord report a problem. For landlords who don't want to be the first point of contact in an emergency, make sure you appoint a letting agent to take on the role.
If you're planning to let out your property in Knightsbridge, Paddington, Marble Arch or other part of central London, contact our lettings team