All businesses need to know who their likely customers or clients are. When you know the people who are most likely to call on your services, you’ll find it easier to target these people and provide them with what they are looking for.
While the demand for rental property is increasing and sees people and households from all walks of life, the largest target market for landlords is couples with no children. Couples with no children is the largest group in the UK rental market, so landlords should consider the needs of this group and what they want to see in rental accommodation.
You can sell a lifestyle to this group
How you promote a property to this group can impact on how they engage and interact with you. It is best to focus more on the space available inside the property as opposed to worrying too much about the exterior of the property. If you can include some furnishing, even if you stop short of offering a fully furnished flat, you’ll find it easier to create a scene or atmosphere that couples will be keen to recreate of their own accord.
It is no surprise to learn that some information which is relevant to vendors also applies to landlords. Vendors are advised not to leave a room blank because this can leave buyers overwhelmed by options and possibilities. This advice should also be taken on board by landlords.
Give couples help with what can be achieved at the rental property
Rather than leaving rooms entirely blank at the viewing stage, showcase what is achievable or add a finishing touch or two around individual rooms to help people visualise themselves at home. Something as simple as adding candles to a dining room table or wine glasses in the kitchen will paint a picture that helps people imagine themselves in the home.
Young couples with no children will likely socialise, but they will also enjoy their time at home. This may not mean partying, it may be just settling down to binge-watch a show on TV, but if you can create these images when presenting the property, you’ll increase the likelihood of people wanting to stay in your rental premises.
Price and location matter to this group
When it comes to reaching your audience, bear in mind essential facts regarding this group and what they want to see at a rental property. A recent study suggests 70% of couples with no children place the cost of rent as their number one consideration. This group may be looking to save money towards buying their own home one day, which means they don’t want to spend too much money on rent.
Studies also suggest that 40% of respondents in this group cited distance to work and ease of commute as the second most vital consideration when looking for rental property. If you are located close to transport hubs or a commute to a major employer or city is simple from your rental accommodation, make sure you promote this fact.
Savvy tenants will carry out their research, but not everyone will. You can make your property a popular option by detailing the reasons why these tenants will appreciate your property.
At Hunters Forest Hill, we know the importance of connecting with tenants and providing them with information that makes them feel more confident when viewing a property. If you aim to let your property, we are active in New Cross, Peckham, Dulwich and Brockley, in addition to Forest Hill, so get in touch with one of the top three letting agents in London, and we will be happy to assist you.