As a landlord, it can be beneficial to find long term tenants. Are you thinking of buying a property to rent? Do you currently have a property on the rental market? If so, it’s a good idea to make your property attractive to families. Many families want the security of a long term contract so it’s of mutual benefit. Studies have shown that family tenants usually take up the least amount of property management time. Read on to find out five ways you can make your rental property attractive to families:
Location, Location, Location
If you are looking for a property to buy-to-let with the aim of attracting family tenants then the location may be the most important factor. Most parents will want to be in the catchment area of good schools, especially in England where there is serious competition for school places. In areas where competition for school places is lower, parents still look for properties that are close and preferably within walking distance to the local schools.
If you have already bought your rental property, make sure you are advertising the family-friendly amenities that your property is close to, such as school, the park, beach, river, shop and other family-friendly attractions.
2. A Family Garden
Every family would ideally like a garden, and preferably one with enough room for their children to play. Ensure that your rental property’s garden is enclosed with a wall, fence or hedge and a gate. If the garden is large, plan it so potential clients can see there is plenty of space to eat outdoors, entertain guests and for kids to play. If your garden is on the smaller side, make sure it’s clean and tidy and making the most of the space you have. A small yard with a couple of colourful pots, somewhere to sit and a small place to play can be attractive to families too.
3. Safety First
Landlords have legal responsibilities to keep the property they rent safe and free from health hazards for all tenants. Parents have extra safety concerns too. Double-check that railings and bannisters are secure and consider installing stair gates in your property. A security system shows your potential family tenants that you value their safety. Security measures can act as a deterrent to thieves and therefore reduce the cost of your cover. Always compare landlord insurance before taking out a policy. Put safety locks on toilets, ovens and windows. Safety film on the glass will also impress future tenants.
4. Space for Families
Most families will require at least a three-bed home to rent (although don’t rule out two beds, especially if they have any other family-friendly features or extra reception rooms). If you are renting out a furnished property be sure to decorate and furnish showing that your property has a double adult room as well as bedrooms suitable for children. A fresh lick of paint always makes properties look attractive, even if tenants plan to change them in the future (if allowed) but make sure they’re gender and taste-neutral.
When searching for properties, first families look for a home with the appropriate number of bedrooms. Next, families will potentially be looking for
- a good-sized living space,
- a functional kitchen with space to eat (or ideally a separate dining room),
- more than one bathroom, plenty of storage space
- and parking.
Flexibility for Families
When planning to rent out your property long-term it pays to be flexible. Consider being flexible when it comes to families decorating the property. Families that are allowed to keep pets too will consider your rental property home. They will want to continue renewing their contract and staying in their home for as long as they can.
Make sure that everything is clear and outlined in the tenancy agreement so both parties are happy with the arrangement. Always maintain good relationships with your tenants at all time and this will make it a more pleasurable, mutually beneficial professional relationship for both you and your family tenants.