Whilst a property needs to be competitively priced, a recent survey found that there are some perks which tenants are happy to pay a little extra for.
Unsurprisingly, one of the most popular choices for tenants was the inclusion of pets, with 28% of the 3,290 tenants surveyed willing to pay an average of £24 a month to have their animals with them in their rented home. This figure increases in the case of younger renters, with 31% of 18-35-year olds willing to pay an extra £25.55 a month.
High-speed internet is also high on tenants’ wish-lists, with 21% happy to pay £19 more a month for a home located in an area that has a strong internet speed – understandable in today’s world of smart phones and streaming.
In some rented spaces, a bit of greenery can go a long way. Properties that come with a garden, even a communal one, are in high demand with 32% of tenants willing to pay extra for a home that has access to an outdoor space. Staying in shape is equally important - 41% of those surveyed said they’d be happy to pay up to £20 more a month for accommodation that comes with an on-site gym. Whilst that’s rarely the case, it could mean your buy-to-let property could fetch a higher price if it’s located close to good leisure facilities.
Similarly, cleaning services can command a premium. Reports last year revealed that half of millennials now pay a professional to keep their homes clean and tidy, and 13% of participants in this survey said that they’d happily pay an average of £28 a month more to free themselves of some of their weekly chores.
While some of these perks may not apply to every property, it’s clear that as a landlord, it pays to take a closer look at what your property has to offer – you may be able to charge more for it than you think.
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