5 Things Tenants Want From a Rental Property in Balham
The wish list for tenants is ever-growing, and with a competitive rental market, tenants are seeking more than just a convenient location and a clean property. Using our expertise here at Your Home Managed, we’ve identified the top five features that renters in Balham are searching for in a rental property.
Tenants today seek spaces that accommodate their lifestyles, from remote working needs to storage and pet-friendly options. It’s not just about location and price anymore; it’s about providing a home that meets their daily needs and makes life a little easier.
By understanding these preferences, as a landlord, you can make your rental property in Balham stand out, appealing to renters who value comfort, convenience, and flexibility in their living spaces.
So, here are five key features that are in high demand among today’s tenants.
Ample Storage Space
Storage is a top priority for tenants as modern living demands more room for belongings, especially in urban settings. New-build properties often integrate storage as part of the design, but older buildings might lack this. In a rental without built-in storage, even small additions can make a big difference.
Tip: To attract renters in Balham, consider options like access to loft spaces or outdoor storage, such as a garden shed. If these aren’t feasible, adding a wardrobe, a chest of drawers, or even a custom-built cupboard in hallways or underutilised areas can enhance storage options. Highlight these storage features in your property listing, as it can set your rental apart from the competition.
Home Office Space
Remote working has made dedicated home office space highly desirable. Many tenants now prioritise properties that can accommodate a workspace, even if it's just a compact desk area.
Tip: Think creatively about where a desk might fit. Spaces in living rooms, hallways, or under the stairs can be converted into mini work areas for tenants. To make it even easier, consider creating a compact ‘built-in’ desk in a small space in the property. Mentioning a ‘home office area’ in your listing can make your property especially attractive to remote workers in Balham.
A Reliable and Respectful Landlord
This should go without saying, but, the relationship between landlord and tenant is crucial for rental satisfaction. In today’s market, renters not only look for well-maintained properties but also for landlords who are proactive, communicative, and fair. A responsive landlord can make tenants feel valued and more likely to renew their lease.
Tip: High-quality tenants are often put off by a lack of communication or by landlords who don’t appear to take their responsibilities seriously. To retain good tenants, maintain open lines of communication and address maintenance issues promptly. A reliable reputation as a landlord can significantly impact tenant retention in Balham.
Security Features
Safety is a universal concern. Even if the surrounding area has low crime rates, tenants want the added peace of mind that comes with a safe property. A well-secured home not only attracts tenants but also adds value to your rental property.
Tip: Affordable security options include installing an alarm system, fitting deadbolts, or even adding motion-sensor lights around the property. For properties in Balham, these features can make a meaningful difference, helping tenants feel safe and secure. Emphasise security in your listing to attract safety-conscious renters.
Pet-Friendly Policies
With remote working trends, pet ownership has become more popular. Offering a pet-friendly rental can significantly expand your tenant pool, including those who may stay longer due to the flexibility provided.
Tip: It’s not just cats and dogs! Gen Z renters, in particular, may seek permission for smaller pets like tortoises, reptiles, or fish! Allowing tenants to bring their pets (where feasible) can reduce vacancy rates and build goodwill. Be clear about your pet policy in your listing though! Highlighting a pet-friendly approach can appeal to a broader range of potential renters in Balham.
Attract Great Tenants With Your Home Managed
At Your Home Managed we’re dedicated to helping landlords find and keep high-quality tenants.
If you’d like more tips on tenant attraction, call Your Home Managed on 0208 125 7780 or email info@yourhomemanaged.com for more information.
We bring expertise, tools, and a level of thoroughness that ensures you get the best advice.
In the meantime, we’ve answered some of your common questions about things tenants want.
Frequently Asked Questions About Attracting Tenants
What features are most important to tenants in a rental property?
Tenants value storage space, a designated home office area, reliable landlords, strong security features, and pet-friendly policies. Including these can make your rental stand out.
How can I make my rental property more attractive to tenants?
Adding storage solutions, creating workspaces, maintaining regular communication, and allowing pets can increase tenant interest. Small investments like these can lead to longer, more stable tenancies.
What are the benefits of allowing pets in rental properties?
Pet-friendly rentals often attract a wider pool of tenants, encouraging longer stays and reducing vacancy periods. Additionally, pet owners tend to be grateful for flexible landlords, which can result in better tenant-landlord relationships.
How can I improve security in my rental property?
Install affordable security measures like alarms, secure locks, and outdoor lighting. These additions can deter intruders and increase tenant confidence.
