In the competitive buy-to-let market, making your property appealing to potential renters is crucial for success. Recent research conducted by Uswitch's buy-to-let mortgage experts reveals certain 'red flags' that deter UK renters, which landlords need to address to boost the attractiveness and value of their investments.
Key findings include the following deterrents:
● Damp/Mould - A major turn-off for 79% of respondents.
● Bad Smells - Deterred 67% of potential renters.
● Physical Deterioration - 62% found this unappealing.
● Lack of Natural Light - An issue for 60% of respondents.
● Single Pane Windows - 58% would prefer double-glazing.
● Noise - A concern for 54% of potential renters.
Other notable concerns encompass general uncleanliness, insufficient storage, prepayment energy meters, and absence of white goods. Specifically, 11% of homes in the private rental sector reportedly have damp issues, and 58% of respondents are deterred by the lack of double-glazed windows. Moreover, over two in five respondents find a prepayment (pay-as-you-go) energy meter unattractive, indicating a preference for credit or smart meters.
Location emerged as a pivotal factor for 66% of respondents, underlined by the safety of the area, proximity to local amenities, and accessibility to public transport. Safety within the rental property itself also holds significant weight, with emphasis on secure locks on doors and windows.
Additionally, renters value certain property features including a good EPC rating, satisfactory broadband speed, and reliable mobile service. Interestingly, 60% of UK renters find it important that the property is managed by the landlord, preferring a direct line of communication over dealing with external property management agencies.
Given these insights, it's prudent for landlords to address the highlighted concerns to make their properties more appealing to prospective renters. This is where David Harris & Co comes into play. With a wealth of experience in Finchley’s rental market, we are adept at advising landlords on how to optimise their properties to meet the expectations of modern renters.
Engaging David Harris & Co’s services ensures your property is well-maintained, meets safety standards, and appeals to a broad range of potential renters. Our expertise in local market dynamics, coupled with a personalised approach to property management, makes us the go-to choice for landlords looking to enhance the appeal and value of their buy-to-let investments.
Uswitch buy-to-let mortgage expert, Kellie Steed, comments: "When putting your buy-to-let on the market, ensuring you meet demands on a renters’ wishlist can heighten your confidence in finding tenants. You can also tailor your property to attract the type of tenants you want. Additionally, it offers flexibility in what you charge for rent, allowing you to maximise the return on your investment."
Contact David Harris & Co to let property in Finchley
We have assisted many Finchley landlords connect with willing tenants, and we know where these groups are looking for rental accommodation. You can take the stress out of connecting with your ideal tenant by turning to a local lettings agent in Finchley.
If you want to make an informed decision in and around Finchley’s rental market, we are here for you. If you have any questions about the local market, or you need assistance, please contact David Harris & Co today. Call us on 0208 346 9122.
