The
rental market across the UK is extremely strong
and is gaining in popularity at an alarming rate. In order to cater to the
rising demands, developers are committing themselves to provide properties
around each major city throughout the country. With an increase in property
comes an increase in investors looking for opportunities to capitalise on the
flourishing market.
Now
people are becoming long term renters more than ever before as the cost of
living hasbecome unaffordable for many.
As home ownership feels out of reach, people are resorting to renting property to make it into their home. There are
several ways in which you can make a
lucrative business out of investing in property, but one of the main concerns
is how to make it speak to your target tenants to ensure it is always occupied,
producing steady returns.
High-quality kitchen
Kitchens
are often regarded as the heart of the house,
so it is important to make this an attractive feature to entice prospective
tenants. Having a high-quality kitchen in your rental property is appealing as
it needs to be able to last the tenant’s full duration, therefore, needs to be long-lasting
and durable. Tenants feel reluctant to fork out their own money to purchase
white goods, so often it pays to integrate them into your kitchen design as it
is one less expense for a tenant to worry about.
If you choose to include white goods it may
be worth making sure that they are still under warranty.Utilise features in the
kitchen that use a low amount of energy for the eco-conscious
tenants, as well as being easy to maintain and clean. A new kitchen has the
potential to really add value and appeal
to your property.
Premium features and amenities
The
expectations of rental properties have increased over the years as people are demanding more
from their home. Features like on-site coffee
shops, communal gardens, beautiful city views and cleaning servicesare desired
by the 21st-century tenant, therefore, more and more property
investment companies are offering services like these. The latest launch from RW
Invest showcases a centralised public piazza as well as a concierge service
and underground car parking for its residents,
this is in keeping with high demands set by the tenants of today.
Smart efficient homes
The
rise of technology has entered its way into the property market too, therefore, tenants are expecting to have the
latest technology throughout their home. If you are looking to give your
property that extra edge, then consider making some smart upgrades to your
property. Fast internet connections are essential if you wish to appeal to the
student market as well as being one of the many features that help to keep void
periods to a minimum. Energy
efficient appliances and fixtures like fitting LED lightbulbs, installing
smart metres and adding insulation are another major pull for future tenants as
it saves the money on their household bills and creates a more eco-friendly
environment in the process.
