The importance of good transport links to tenants
Thu 21 Jun 2018
As a landlord, you'll want to make your rental homes as attractive as possible to prospective tenants, in turn improving your chances of occupying them with ease and receiving a steady stream of rental income.
One way in which your home can be very attractive is proximity to good transport links, particularly for commuters who need to travel elsewhere for work.
So, if your rental home has reliable rail, bus or road links on its doorstep, or a short distance away, make sure you point this out to potential tenants when they come to view your property.
Below, we take a look at why excellent transport links can prove so crucial…
Easy access for work and play
In West Lothian, the area Letting Solutions operates in, we are not far from a number of key areas of employment.
Edinburgh, of course, is Scotland's historic capital and hugely popular among young professionals, creatives and culture vultures; it's also just over 34 minutes by train from Livingston, West Lothian's main commuter town.
For those who work in Edinburgh, then, Livingston – or the towns, villages and suburbs that surround it – would be an ideal choice, with fast access right into the heart of one of the world's best-known capitals.
Glasgow, meanwhile, a place where trendiness meets grit, has become an increasingly popular destination in recent years thanks to considerable regeneration and investment.
It's become a key jobs hub and can be reached in just under an hour by rail and 45 minutes by road. What's more, Falkirk – a large town on the outskirts of West Lothian – is a mere 34 minute drive away.
If your rental home can offer easy access to major cities – and the job opportunities, leisure activities, green spaces and cultural events they offer – demand from tenants is likely to be high.
People often like the ability to work and enjoy themselves in a city or large town, and then escape the hustle and bustle by living in quieter surroundings. As a landlord, you can take full advantage of this. Just so long as you can offer quick, easy transport links to more lively areas.
A key feature
Whenever tenants are surveyed about the features or must-haves that are most likely to sway them towards a rental property, transport links often appear front and centre – up there with local amenities, fast broadband speeds, nightlife, garden space and parking as a vital consideration.
As a landlord, you want to give tenants what they want to increase your chances of filling your homes with long-term tenants who will pay their rent on time and cause you no issues.
If your home can provide good transport links, you'll already be one step ahead of the competition. And you have a ready-made selling point to tempt prospective tenants with.
Of course, the type of transport links required can vary depending on the location of your property. If your home sits in – or very close to – a commuter town, rail links will be most important.
However, if your rental home is located in a more remote location, easy road access and reliable local bus services will be key factors.
Convenience and cost
For many tenants, being close to good public transport links is crucial; whether for work, leisure, visiting family and friends or getting to medical appointments or airports. Those who can't drive can be hindered if rail or bus links are poor, which will make day-to-day life much more inconvenient.
The majority of tenants prefer to live in a convenient location, with good access to local amenities and strong transport links. They will often be willing to travel a little bit further into work, if it means they can live in a quieter part of town.
Families, in particular, are often keen to live away from major cities for the slower pace of life and extra green space on offer, while middle-aged and retired renters – who are growing in numbers in the private rented sector – are also likely to prioritise the chance for a bit more solitude.
The cost of getting to and from work, or to and from a major city, will also be a consideration for tenants. While the cost of transport links is completely out of your control, if you live in a location with speedy and affordable rail and bus links on your doorstep, don't be afraid to point this out.
While transport links may not be as much of a deciding factor as location, the look of a home and high-speed internet (a must-have these days with so much of life lived online and a rise in the number of people working from home), there is no doubt that strong rail, bus and road connections will increase the attractiveness of your property.
For more information about letting your property in Scotland, please get in touch with Letting Solutions on 01506 496 006.
As West Lothian's first dedicated lettings agency, we have the skills and knowledge to help maximise your rental yields and keep your tenants happy.
We also offer a free and instant online valuations to give you an idea of how much you could be charging in rent.