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Presenting your property according to tenant type

July 22, 2015

Today’s tenants are spoilt for choice when it comes to rental properties, so landlords are under huge pressure to try and make their property stand out. The good news for landlords, though, is that you don’t need to spend a fortune to make your property as desirable as possible – you just need to work out who your most likely customer is, and present your property accordingly.

Tenants in London fall into four main categories: students, employed sharers, employed couples, and families. Each group has varying preferences for size and style of property, and length of term. We’ve compiled what we consider to be average profiles for each of these typical tenant categories:

Students

Students typically look for larger properties with three or more bedrooms that they can share with their friends, but a minority of well-funded students opt for a studio flat close to their campus. They often choose something simple and practical over something aesthetically pleasing, and will almost always want the property to be furnished. A large number of students will also want to convert a living room into another bedroom, so you should always bear this in mind when buying furniture and fittings. It’s also worth considering that most students expect to have a desk in their bedroom.

Our top tips for student interiors:

  • Hard wearing carpets

  • Plain white washed rooms mean it is easy just to repaint one wall at a time

  • Simple but effective kitchens – high gloss surfaces are easy to clean

  • Practical bathrooms – large white tiles will decrease future costs as there is less grouting

Employed Sharers

Employed sharers usually fall into the 20-30 year-old age group and are looking for clean, modern living with equal sized bedrooms. Typically they want a furnished or at least part furnished property, and location is often an important factor, as they will want to be close to transport links. A good space for entertaining is often an attractive bonus.

Our top tips for employed sharer interiors:

  • Laminate flooring

  • Spotlights give a cost-effective but contemporary feel

  • Shower essential (but over the bath is okay)

  • Dishwasher an advantage

  • Good value contemporary furniture is acceptable

Employed Couples

Employed couples tend to go for one or two bedroom properties and often want longer tenancy terms than sharers. Particularly given the current barriers to getting on to the property ladder for first time buyers, couples are often renting for longer periods as they simply cannot afford to buy. For those who want an extra room, that second bedroom doesn’t necessarily need to be a double, as it would with sharers, but the quality of fixtures, fittings and furnishings throughout should remain similar. Employed couples will often have accumulated some furnishings and equipment so basic furnishing is usually sufficient. They will also be more likely to take an unfurnished property compared with students or employed sharers.

Our top tips for employed couple interiors:

  • Higher specification achieves higher rent

  • Separate reception room an advantage

  • Good quality laminate flooring

  • Spotlights for contemporary feel

  • More spacious entertaining space

  • Well-appointed kitchen and bathroom with separate shower

  • Unfurnished or minimally furnished

Families

Location is very important to families, generally more so than for any other type of tenant. A property will particularly appeal to families if it falls into the catchment area of a good school. Families are more likely to want an unfurnished property, with three or more bedrooms depending on the size of their family, and it is also probable that they will stay in a property for longer than students or employed sharers. They may have higher expectations regarding the quality of the fixtures and fittings. Parking is also a bonus.

Our top tips for family interiors:

  • Location is generally key, but high specification interior is also expected

  • Smaller bedrooms for children are fine

  • Larger main bedroom with ensuite bathroom expected

  • Large kitchen, with spacious reception room

  • Larger family bathrooms

Deal breakers

While tenants may have different preferences for size and style of property, there are a few deal breakers that immediately put all tenants off. Watch our video to find out what they are! All tenants also expect a property to be presented in tip top, sparkling condition, without any outstanding repairs.

How we can help

At Portico we want our landlords to achieve high rent and low voids, so in between tenancies we send in our in-house handymen (free of charge on our Concierge package) to make sure that any minor maintenance issues are nipped in the bud. Our handymen run through a 10 point MOT check list which includes things like fixing dripping taps, clearing sink blockages and replacing any defective light bulbs. They’ll also make sure that the filters on the washing machine and dishwasher are clear and top up the water pressure in your boiler. On top of that, the Concierge package also includes access to a local Property Concierge: an expert property manager who will manage your property as if it were their own, deal with any maintenance issues, and constantly be on hand to give you any advice you may need.

If you want us to let your property, or if you want more information on what tenants want, give us a call on 020 7099 4000. Alternatively, if you just fancy keeping up to date with our latest news, follow us on Twitterand Like us on Facebook.


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