Whilst a rental property needs to be competitively priced, a recent survey found that there are some perks that tenants are happy to pay a little extra for.
Pets allowed
One of the most popular choices for tenants was the inclusion of pets, with 1 in 4 tenants surveyed willing to pay an average of £50 a month more to have their pets with them in their rented home.
Broadband
High-speed broadband is also high on tenants’ wish lists, with 21% happy to pay £20 more a month for a home located in an area that has a strong broadband speed – understandable in today’s world of working from home and online streaming.
Outside space
In some rented spaces, access to outside space can go a long way. Properties that come with a garden, even a communal one, are in high demand. 32% of tenants surveyed were willing to pay an average of £69 more for a property with a garden.
Parking
A designated place to park is important to a lot of tenants, with 17% prepared to pay an average of £50 per month more rent for a property with a parking space or driveway.
Access to gym facilities
Staying in shape is equally important - 41% of those surveyed said they’d be happy to pay up to £20 more a month for accommodation that comes with an on-site gym. Whilst that’s rarely the case, it could mean your buy-to-let property could fetch a higher price if it’s located close to good leisure facilities.
Decorating
Tenants like the option to be able to decorate or add pictures to make the property feel more like home.
Furniture
Whilst most rental properties are let on an unfurnished basis, 15% of tenants said a furnished property was most important to them and that they’d pay, on average, £163 a month in additional rent for a fully furnished rental.
Similarly, cleaning services can command a premium. Reports have revealed that half of millennials now pay a professional to keep their homes clean and tidy, and 13% of participants in this survey said that they’d happily pay an average of £28 a month more to free themselves of some of their weekly chores.
While some of these perks may not apply to every property, it’s clear that, as a landlord, it pays to take a closer look at what your property has to offer and what tenants may be willing to pay a bit more for.
For an up-to-date rental valuation of your property, book a no-obligation appraisal today with your local office.
