Comparison service USwitch has set up a check list for prospective property investors to make their purchase as attractive as possible to renters.
Comparison service USwitch has set up a check list for prospective property investors to make their purchase as attractive as possible to renters.
The biggest property deterrents:
Factor |
% respondents |
Signs of damp / mould |
79% |
Bad smell |
67% |
Signs of physical deterioration |
62% |
Lack of natural light |
60% |
Windows not glazed windows |
58% |
Noise |
54% |
Uncleanliness |
49% |
No built-in storage space |
47% |
Prepayment energy meter |
41% |
White good not included |
38% |
USwitch mortgage expert Kellie Steed says: “When putting your buy-to-let on the market, ensuring you meet demands on a renters’ wishlist can heighten your confidence in finding tenants.
“You can also tailor your property to attract the type of tenants you want. Additionally, it offers flexibility in what you charge for rent, allowing you to maximise the return on your investment."
A USwitch buy-to-let survey also revealed that for over half of respondents location is the most important factor when choosing a property.
The top determining location features that landlords should bear in mind when looking for a property are:
Safety is not only a concern for tenants regarding the surrounding area, but also the property itself. For 35 per cent of UK renters, safety & security is the leading consideration, particularly a double lock on the front door and window locks.
Renters also highly value the following property features:
Additionally, three in five UK renters also said it would be important to them that the property is managed by the landlord.
While it can be easier to rely on an external party to manage a property, renters prefer to have a direct point of contact with their landlord.
Kellie Steed’s tips for landlords are:
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