How to make your rental property suitable for families
Fri 02 Nov 2018
As a landlord, it’s important to know the current trends in the private rented sector and how to attract long-term and reliable tenants.
Family tenants make up a growing proportion of the private rental sector and research suggests they tend to make better long-term tenants. The National Landlords Association reports that properties let to families take up the least amount of property management time (up to eight hours a week) compared to other tenant types.
As well as making up a large portion of the prospective tenant pool, families generally like to stay settled for longer and may be more inclined to keep your property well maintained.
If your rental property is suitable for this demographic, you will want to figure out the best ways to attract families. Therefore, here at Letting Solutions, we have outlined some of the ways you can make your property one that families will fall in love with.
Location, location, location
This is one of the most important factors that parents moving with young children will take into consideration when moving home. They will want to be within the catchment area of local schools and nearby amenities such as parks, leisure centres and playgrounds. Living in a family-friendly area is a bonus for landlords and likewise a must-have feature for many tenants.
A family-friendly garden
If you’re fortunate enough to have a garden or other outdoor space, you want to utilise it well, as it can offer a great place for children to play. This means making sure the garden is free from any hazards and keeping the space as neat and tidy as possible. You also want to ensure that the area is secured with a stable fence.
Offer safety and security
Your property could be in the perfect location for families, but that won’t matter much if it isn’t safe and secure for young children. Parents are likely to be concerned about how safe the property is for their children, so consider safety locks on toilets, ovens and windows – these are an affordable yet effective addition to your home that will impress prospective tenants. It’s also ideal to double-check railings and banisters are secure, as parents will check these small details.
Build a rapport
As a landlord, it’s important to build a good relationship with your tenants to ensure that the tenancy goes as smoothly as possible. If your tenants are there for the long-term, they may want to decorate and personalise the space – especially when it comes to their children’s rooms – in order to feel more at home. By building a rapport with your tenants and establishing boundaries, you can foster a harmonious relationship with renters who will also be more likely to look after your property.
The right family space
Most families require a practical home with two, three, or four bedrooms with ample space, parking and storage. While you may not be able to change the number of rooms in your property, you can consider turning a small spare room into another useful space – such as a playroom for the children. This is cost-effective and will require minimum renovation. There is also the possibility of converting unused space in a garage or basement into a play area or game room.
As family tenants like to put down roots, stay in the property longer and make good tenants overall, it could be hugely beneficial to target this demographic if your property is suitable for their needs. By considering the above advice and preparing your property efficiently, you can achieve the goal of letting your property to one big, happy family.
Here at Letting Solutions, West Lothian’s first dedicated lettings agency, we have the skills and knowledge to ensure you get the best possible results from your rental property.
To find out more about what we can do for you, please get in touch with us on: 01506 425693.
We also provide a free and instant online valuation to give you an idea of how much your property could be worth on the current rental market.