Added value for tenants: Simple improvements that can justify higher rent
By Allison Thompson, National Lettings Managing Director, Romans
Although the rent you charge must be in line with local market rates, there will be a range of prices, and you want to be at the top end.
Modern fittings and clean, fresh décor are a standard ‘must’, but what are the extra things you can do to attract tenants who are willing to pay a little extra?
Ensure they can get high-speed broadband
We all rely heavily on the internet these days, and tenants certainly expect to have a decent broadband service. While they will be responsible for paying their own bills (unless you’re letting an HMO, in which case, broadband will be included), it’s worth ensuring that the property has a full fibre connection so that tenants can get a super-fast package. Putting this in your property adverts is likely to attract tenants who can afford to pay a bit more.
Provide modern power points
Now that we all have multiple electronic devices that need charging, make sure your property looks up to date and can handle your tenants’ electrical requirements.
- Replace older plug sockets with USB ports.
- Make sure there are enough charging points in the living room and bedrooms to handle multiple devices charging at once.
- Provide smart power strips for tenants to use, which can help control power usage by automatically switching off devices and appliances when they’re not in use.
Be as eco-friendly as possible
The vast majority of tenants are keen to live more sustainably, so making your rental as green as possible may help attract responsible tenants who might be willing to pay a little extra to help the environment.
- Make sure the property is well insulated.
- Install smart-tech heating and lighting control systems.
- Ensure all lighting is LED.
- Install dual-flush toilets and water-saving showerheads.
- Provide recycling and composting facilities.
Be pet-friendly
In our experience, most tenants with pets are prepared to pay a little more to ensure their pet has a comfortable home. So, even though the Renters’ Rights Bill (England only) gives all tenants the right to request keeping a pet and you won’t be able to refuse without a good reason, where tenants have a choice of a ‘standard’ rental or one that’s a bit more expensive but more pet-friendly, they’re likely to go for the latter.
Some ideas:
- If there’s a garden or other outside area, make sure it’s securely enclosed.
- Have hard flooring to make it easier for the tenant to keep clean.
- Be open to installing a cat or dog flap.
Upgrade the shower
A modern bathroom with a decent shower is high on most tenants’ wishlists. If you’ve had your rental for a few years, you don’t have to refit the entire bathroom, but it’s well worth upgrading the shower.
Consider installing an all-metal integrated shower system, which is durable, corrosion-resistant and designed for frequent use and long-term pressure – ideal for rental properties. And it will look good on your marketing photos!
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