Tenants’ most in-demand features revealed
The features we assume tenants are looking for and what actually ticks their boxes can be two very different things. To establish the most in-demand aspects, Rightmove examined more than 600,000 property listings, looking at what was mentioned in the property description in relation to the homes with the highest number of enquiries.
The portal was able to compile a ‘top 10’ as a result of its analysis and the number one feature may surprise you. The most in-demand feature for renters was double glazing. Even though it is not a modern invention, the feature is still a must-have among those scouring online search results.
The wider results show renters are increasingly preoccupied with anything that results in a warm home and that could save them money on energy bills. This sentiment is backed up by three further features that appear in Rightmove’s top 10.
Taking the second spot was smart tech, such as a smart heating system, and in sixth place was a new boiler. In ninth place was ‘energy efficient’ – with rental listings featuring this term gaining lots of interest. After last winter’s energy crisis, it’s no surprise that tenants are preferring properties with the latest central heating, which can potentially cut the cost of utility bills.
The remainder of the top 10 most in demand features for renters was made up of more traditional elements. In terms of attracting attention, being near a station was still a hugely redeeming quality, taking third spot. This may reflect our move away from exclusive home working to a more hybrid style where we split hours between a central office and our homes. Completing the top 10 was a parking space, a basement, a shed, an attic and open plan space.
Rightmove’s research is something landlords should pay attention to if they have a new-to-market property or have a tenancy that’s coming to an end and new tenants need to be found. The most enquiries will be received when the current in-demand features are highlighted at the listings stage.
Landlords who don’t have any of the most in-demand features in their property can use a void period to make changes and boost their buy-to-let’s appeal. In some cases, the perks can be two-fold. New research by GetAgent.co.uk looked at what home improvements could add the most value to a property and found alterations that enhanced a property’s energy efficiency can have the most handsome rewards.
The installation of solar panels is thought to add £12,000 to a home’s value, while the addition of double glazing can see an increase of £9,000. The research also found a new boiler and an electric vehicle charging point could each add between £4,000 and £5,000 to a rental home’s value.
If you are a landlord with a buy-to-let coming to the end of its current tenancy, or are considering renting out a property you own, contact us. We can help you make the biggest impact by identifying your property’s most in-demand features and prominently promoting these when we market the property.
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