As a landlord, it is important to consider what kind of a person is going to be best suited to your buy-to-let. Is it a flat for a young professional in the city? Is it a bungalow in a quiet area that would suit an elderly couple?
It might be that your property is the perfect set-up for a family. In this case, there are things you can do to make sure you maximise this opportunity. As a parent, you see the world in a different light. Parents want to move into a safe environment for their children to play as discover their surroundings. A landlord looking to tap into this lucrative market of renters can do this by making their property family-friendly. Here are a few ways that you can make that happen.
Space and storage
It goes without saying that families will always need more space than individuals or couples. It’s one thing having enough bedrooms and seats at the table for every member of the family, but it’s also important to ensure that you offer enough storage too. Do you have the opportunity to convert a loft into a bedroom, or perhaps a dining room? If you have enough bedrooms, could you potentially transform a loft or dining room into a playroom?
Utilise any space you have so that parents can enjoy their new home without being totally surrounded by toys, books, prams and all the other baby and child paraphernalia that comes with having a family! And whilst we’re on the subject of space, make sure the property’s driveway offers enough space for children to get in and out of the car.
Chances are, parents will want their children to be able to play outside without the worry of them getting into any harm. Depending on the set-up and style of your property, you may be able to invest in some fencing at the front to keep the property secure from the road and pavement. That way, there’s no chance of children running out into the road, and your tenants will also have some extra outdoor space to safely play.
In terms of security, the same goes for the back garden. Make sure it is secure and safe for children to play. That means checking that fences are of a solid structure and that there are no wonky paving stones that could prove to be a trip hazard. Ideally, the garden will have a soft, grassy area that is ideal for kids to play on.
Practical walls and floors
When it comes to providing a home for a family, practicality comes in on top. That means that instead of opting for a plush cream carpet, you probably want to offer some sort of hard flooring.
Hard flooring wipes clean and doesn’t trap odours, so can be a much better option for families. Yes, it can be a painful place for a child to fall down when learning to walk, but your tenants can always put down rugs and playmats to combat this.
As for walls, consider using washable paint to decorate your buy-to-let. Whilst a satin finish paint will be able to withstand a little wear and tear, dirty hand marks on walls, crayoning or food splatters are almost a given with a family. Washable paint, in this case, will be massively appreciated by your tenants to keep the property looking nice and will save you having to redecorate at the end of their tenancy.
Families can be an amazing market of renters to capture. They want stable, long tenancies so are likely to really look after your property and make it their home. Just make sure you compare landlord insurance to ensure you have the best level of cover in place to protect it from any damage and accidents. Children aren’t the tidiest and most considerate of tenants!