Lifelong tenants are looking for lifelong landlords

Just three years ago it was predicted by many experts in the property market that the majority of young professionals and families would eventually resign themselves to the idea of being lifelong renters. With the demand for rental accommodation in the capital so high and the number of happy tenants rising, it would seem that the predictions were accurate. As an increasing number of tenants commit to long-term tenancies, it creates the need for landlords that are equally dedicated to providing suitable housing and professionally managed tenancies.

Long-term tenants need landlords that treat their role in the rental sector as a profession rather than a hobby. This covers all aspects, from providing safe and habitable properties and ensuring they are well-maintained, to placing deposits in protection schemes.

One of the best ways to secure success as a landlord is to have a clear strategy concerning your target market. Take some time to research the characteristics of the tenant market you have in mind. Think about the kind of home they want, the location they are looking for and how much they will be prepared to pay for it. This can help you offer the right kind of accommodation for the renters you want and increase your chances of enjoying an issue-free tenancy and uninterrupted income stream.

No matter what market you aim for, it is important to remember that all tenants are entitled to clean and well presented properties. When you offer suitable accommodation you are more likely to attract reliable renters that will want to remain in the property for longer periods, as well as take care of it.

If you are looking to play the long game as a landlord, then small studio apartments and one-bedroom flats are probably not for you. They tend to be a stopgap for renters until their personal or professional circumstances change and they require somewhere bigger. A high tenant turnover typically means more void periods and less return on your investment. Instead, take a look at larger properties located close to local parks, schools and transport links; this way you will have a better chance of attracting professionals and families in search of long-term homes where they can settle down.

If you are interested in long-term buy to let opportunities we can help you find the right property and tenants and enjoy void-free tenancies. Our experienced property team can offer you high quality investor services along with professional property or block management, covering the whole of Kingston Upon Thames and the rest of the capital.