With more people looking to the private rented sector than ever before, identifying your top tenants is key, and understand what your target audience are looking for.
Knowing exactly the sort of tenant that is likely to fall in love with your property is the first step to designing the perfect property marketing campaign.
However, identifying that market segment doesn’t just stop with what lies behind the front door. Taking a wider view at the surrounding neighbourhood and local amenities is really important when it comes to understanding who may be interested in your property.
Working professionals are considered by many to be the ‘ideal’ tenant. In a stable profession, this type of tenant is often keen to find a property based around providing a good work/life balance, providing them with a simple commute, and ability to make the most of their downtime.
As businesses move their headquarters from major UK cities out to more regional locations, we are seeing more young professionals move with them, and as such the rental landscape is shifting as we flex to suit the ever-changing locations of this huge market segment. Identifying the needs of these top tenants is key, so what exactly are they looking for in their perfect prime location?
Close to public transport
Whilst arguably a huge draw for anyone, busy professionals are likely to have a real need for easy access to public transport. Convenient travel into or around the nearest major town is a great asset, and if your property has good access to major hospitals, universities or business centres, that’s a huge plus too.
Nearby shopping, restaurants, gyms
Taking time to unwind is vital, and being located close to shops, cafes, restaurants and gyms puts a big tick in the box. You can help your potential tenants really make the most of these exciting benefits with Howsy Club, a new initiative from Howsy aimed to revolutionise renting for both tenant and landlord. The scheme replaces high rental deposits, with a manageable monthly fee and delivers a host of additional benefits to the landlord. In addition, tenants receive a free Taste Card, giving them access to 2-for-1 meals at over 6000 UK restaurants.
Good internet connectivity
With more and more people working from home, super-fast broadband speeds are a becoming a prerequisite for tenants across the board, with many hoping to find properties pre-connected and ready to log on as they move in.
As the housing market continues to creep skywards, the age demographic of renters is creeping up with it, and we are seeing more and more families look to the private rental sector to fulfil their housing needs.
This section of the market generally has a very specific wish list when searching for the perfect family pad, and identifying their top ‘wants’ is vital if you’re aiming for family tenants. But what exactly does the modern family look for in a dream neighbourhood?
Children bring with them plenty of things. From pushchairs to rugby kits, every parent knows that the day their child comes into the world is the day they wave goodbye to skipping out of the house with just keys, phone and wallet! With this in mind, it is no surprise that off-street parking is a huge bonus to families.
Great schools, nurseries and childcare
If your property is within the catchment area of a great school, it can be a major draw to parents looking to enrol their child. With entry restrictions often very tight, having the perfect postcode can make all the difference. Access to great nurseries and childcare options is also very important to many parents, so do your research on the options locally.
Parks and open spaces
No matter how perfect the property, there is no replacement for getting outside and having a run around in the open air. If you have great amenities such as parks, youth clubs or sports centres on your doorstep, shout about it!
Low crime rate
Obviously, this is an important element for everyone. However, with increasing fear around gang culture in teens and young people, this is a very real concern for parents of young adults. A safe and calm neighbourhood with active regional Neighbourhood Watch schemes or community support may offer peace of mind, and edge ahead over an area without such benefits.
Student tenants are key to the rental market of some of the UK’s major towns and cities, with student-based rentals making up a high percentage of some region’s private rented market.
However, this sector is not without its challenges and often requires slightly more hands-on management as students take their first steps on the path of independent living. But what regional benefits appeal to this young rental range?
Nightlife and entertainment
It may be an age-old joke, but easy access to bars and nightlife could be a real benefit to students, who may be excited to take the opportunity to make the most of life in their new city. Speedy routes to nightlife hotspots will appeal to students, whilst safe, well-lit streets will appease parents!
Life within walking distance
When it comes to prioritising how to spend a student loan, it is highly unlikely that many will choose to budget for a car… With this in mind, having all major amenities within walking distance is important to student tenants. Taking a stroll around the neighbourhood and jotting down walking times to university campus, local supermarket, transport facilities and restaurants, cafes and bars can help provide clear details in your advert.
Whilst students starting out on their rental journey is one end of the rental range, there is a widening part of the of the market appealing to a more mature tenant. Many landlords identify this market sector as top tenants due to them often looking for long-term, reliable tenancies and a good relationship with their landlords, what more could a landlord want?
With older tenants making up a growing part of the private rental sector, it is important that landlords are aware of the needs and desires of this tenant type. Finding the right neighbourhood is often key to more mature tenants, so what are they looking for?
Access to medical care
As with schools, many doctors’ surgeries operate on a postcode system for patients. More mature tenants may be aware of the need for easily-accessible medical care, and are likely to be looking for continuity of contact with existing healthcare practitioners.
Feeling that you fit in within a community is key, so mentioning that the property is located in a ‘quiet residential street’ is likely to be appealing to a more mature tenant. Living in a property located amid busy restaurants, or sandwiched between student accommodation is unlikely to tick any boxes.
Identifying top tenant selling deires in your neighbourhood and highlighting them in your advert can bring a real boost to your marketing potential.
For some top tips on writing your advert, read our quick guide here. Alternatively, let the team at Howsy give you a hand crafting the perfect advert, designed to showcase the top selling points of your location, and property.
Give our team a call today on 0330 999 1234 to see how we can help