What do tenants look for when renting a property?
ESPC Lettings manager Orlaith Brogan gives us her top tips on attracting tenants for your rental property.
Having worked in the Edinburgh property market for almost 10 years I have become very familiar with what tenants look for in a property. It is very important that landlords quickly attract the right type of tenant for their property. Part of the ESPC Lettings service to landlords is to ensure that their property meets the desired standards of their target market to both maximise rent and minimise void periods.
It is essential that you showcase your property in the best light possible. The rental market is extremely competitive and those that look the best generally secure tenants quicker and at a higher rent. It should appeal to a wide market in terms of décor and cleanliness. Potential tenants really value properties that have been looked after by the landlord and agent.
- Properties should be cleaned to a professional standard before the tenants move in.
- Make sure the property is also clean and tidy for viewings.
- A professionally cleaned oven can make it look like new and windows should also be cleaned inside and out.
- If the property has been empty for a while, dust can gather so a sparkle clean may be required before tenants move in.
- Neutral décor appeals to a wider market and are easier to maintain over the course of the tenancy.
- Tenants can then add their own personality to the property with soft furnishings and pictures instead of trying to fit round someone else’s style.
Marketing is key
In this fast-paced property market these top tips will help you find the best tenants:
- Market your property in a variety of locations, and make sure you know where your target market is looking for their next home.
- Photos should be bright and appealing showing the property in its best light.
- Remove all clutter, put away the dishes on the sink and put down the toilet seat! These items do not look nice in ad shots and will turn tenants off.
Make it easy for tenants to apply for your property
Moving home is stressful at any stage in life but especially when you have an exit date from your current property and must find a new home before your lease ends. Tenants often enquire about a property only to realise it has already been taken! This can be very frustrating for tenants. We recommend that you take a holding deposit and then quickly take the property off the market. This holding deposit should be offset against the full deposit for the property and allows you enough time to credit check and reference check your tenants whilst they have peace of mind that they have secured their new home.
Look after your tenants
Both landlords and tenants deserve an excellent management service. Tenants want peace of mind that should anything go wrong in the property they have someone to contact that will be helpful, responsive and effective in remedying the issue promptly. Happy tenants mean happy landlords and a well looked after property.
To contact Orlaith and the lettings team, call them on 0131 253 2847.