In recent years, people have become more interested in an ‘at home’ living environment when looking for a rental property in London. Since the pandemic and the social anxiety it brought with it, coupled with the move towards remote working, has led to people being drawn to properties that meet their new homely needs.
There’s no denying that real estate can be a tough industry. With the current economic strain, attracting tenants can become challenging. However there are plenty of ways you can spruce up your property to make it more attractive to potential tenants.
We have compiled a list of features that will make your property far more desirable and more likely to result in a signed contract.
Low maintenance and renovation needs
The idea of buying a fixer-upper may seem appealing, however having to renovate major structural issues will put a big dent in your pocket. We would advise looking at properties with minimal renovations and cosmetic alterations needed. Additionally, buying a newly built property can be a bit out of the price range and therefore finding a property that has recently undergone renovations can be a loophole. Newly renovated properties have to be up to code, and thus pose no risk to the new buyer.
Home office space
It is well known that remote working has become a new norm globally. Creating a space in your property for an office will make it more popular to prospective tenants. Depending on the space available, this office area can be a whole room or even just a small working area with a desk and comfy chair.
Nearby Transport links
One of the more requested features by tenants is having transport links nearby. When looking for a buy-to-let property to invest in, it may be wise to look at developments near train stations etc. By having a property close to transportation links, you’re providing a vital amenity for the resident, especially if they’re a working professional that wants to shorten their commute.
Energy efficiency
With the price of energy skyrocketing recently, we have to become sustainability minded. By installing energy-efficient amenities such as solar paneling, and sustainable light bulbs will save the tenants on their energy bill, making the home more desirable and cost efficient. These adjustments will save you money in the long run and benefit both you and your future tenants.
Outdoor areas
By extending your property and allowing for an outdoor area, it will automatically increase the desirability of the property. Outdoor spaces allow for entertaining, relaxing and that ‘at home’ feeling. Having an outdoor area makes your property more attractive to couples ready to settle down as well as families.
By incorporating these features into your current rental property or future purchasing of a buy-to-let, will make it much easier to lease out your property and thus make the property even more profitable.