New Year Means New Demand for Rental Accommodation – Prepare Your Property
January is the month when people like to make changes in their life. The beginning of the year brings about an impetus and desire for change. While many people try to live healthier or make a resolution to improve their love life, a lot of people will consider their living arrangements. The New Year often means a new demand for rental property, which means landlords should be prepared for changes in the market.
It could be that your current tenants are looking to make a change. Being aware of the intentions of your tenants is a smart idea, as this can help you plan accordingly. Of course, it may be that you have property available, and it is the likelihood of other tenants looking for a property that impacts on what you do next.
Ensure your property stands out for all the right reasons
Even if there are many tenants looking for property in areas like Greenwich and Charlton, it is important to be aware that there is a lot of competition in the market. If you want your home to stand out for the right reasons, you need to present it in the most effective manner.
A great starting point is knowing who the most likely tenant of your property is. When you have an idea who is most likely looking for your rental property, you can present the home with this person or household in mind. You can also promote the property to meet the needs of this likely tenant, including knowing how best to furnish the property to please the likely tenants.
At Conran Estates, we understand the local rental markets and we’re pleased to say we can help landlords reach their likely tenants.
Make minor improvements that matter at your rental accommodation
This time of year can be a challenging time financially, but there are ways you can make improvements at your home without spending a lot of money. Some of our top tips include:
- Review the heating system to see if it can be upgraded or improved
- Consider your choice of flooring – tiling or hardwood is stylish, but carpeting offers comfort and insulation
- Ensure all aspects that should be fixed to a wall are securely fixed to a wall
- Carry out all repairs
- Strengthen doors and windows, both for insulation and security
It is also important to be aware of the local market. You should price the rental fee accordingly and try to promote the local area as much as you do the property. If you can make likely tenants appreciate the area or help them find positive reasons to live here, you will increase the chances of someone wanting to rent your property.
Given the excitement and bust nature of December, it is perhaps natural that January is a quieter time for many people. However, people looking to make the most of the New Year are keen to make changes, and it is important that landlords are ready for this.
If you’re a landlord looking to provide the best standard of rental accommodation to tenants, old and new, in 2019, contact Conran Estates and we will be happy to help.