Allison Thompson, is national lettings managing director at Leaders
We know that tenants are generally prepared to pay more to rent a home that is a step above most of what’s out there in the market. So, in addition to ensuring your property is safe and comfortable, it’s worth making an effort to offer a better quality of accommodation and décor and little extras that will improve your tenants’ experience and standard of living.
Here are five simple upgrades to make your property more desirable to tenants and help you secure the highest possible market rent, longer tenancies and fewer void periods.
- Improve the exterior ‘kerb appeal’
Sometimes, the simplest improvements are the most effective, and the reality is that first impressions do matter. Prospective tenants want to be reassured that a property is well maintained and secure, so consider whether you might need to:
Give the door and window sills a fresh coat of paint – or a good clean if they’re uPVC
- Replace the front door handle
- Carry out some maintenance or landscaping at the front – ensuring areas around windows and doors are clear of shrubs
- Repoint any brickwork and ensure guttering and downpipes are in good condition
- Install motion-activated lighting
- Provide a secure parcel delivery box
- Provide modern appliances
Energy-saving, essential white goods that are simple to operate and cheap to run should last several years – ensure your tenants have instructions on keeping them working efficiently. But if your property is furnished, we’d recommend you also invest in a few kitchen appliances that don’t come as standard in most rental properties, such as:
- A coffee machine
- A slow cooker or air fryer
- A blender or smoothie maker
Even if your rental is unfurnished, it’s worth offering to supply these items to incoming tenants, particularly if they plan to live there for several years.
- Install a smart meter and thermostat
A home that’s easy and cost-effective to heat is a big selling point with tenants. Install a smart meter at no extra cost, letting your tenants easily see how much energy they use and when.
Then there’s a lot of smart tech out there that can help them manage when and where in the property they have heating. Smart thermostats and heating controls connect your heating system to the internet, meaning tenants can control it remotely from their smartphones. These typically cost between £100 and £250, but we think they’re worth the investment now as they’re likely to become the norm in the future.
- Upgrade the bathroom fittings
A decent shower is high on most tenants’ wish lists, so if yours is five or more years old, it’s probably time to look at replacing it. At the same time, upgrading the taps and other fittings can help give the whole bathroom a fresh, modern look without completely refurbishing it.
- Provide secure storage
Many tenants are looking for somewhere with a secure shed or other type of unit where bikes, sports equipment and other possessions can be stored. Even if there isn’t much garden or outside space, it’s generally worth fitting in some storage facility.
- Add an electric car charging point
If your property has a private driveway, adding an electric car charging point could open up the desirability of your property to even more tenants. Because these aren’t overly common yet either, tenants with an electric car may be willing to pay more in rent for this.
Of course, tenants’ needs and wants will differ, depending on the type of let you have and your target market.