The letting market is getting stronger month by month. More and more "first-time" buyers are failing to get on the first rang of the property ladder - for various reasons (bank squeezes on mortgages, decline in new builds etc).
This however does not mean "reluctant" tenants will accept any type of rental home, so landlords should be aware of the new trend: tenants demanding extras and "snapping-up" rental homes which offer just that.
People entering into the rental market are looking for specific details in the properties they choose to live in.
James Davis, chief executive of Upad.co.uk, explained the letting agent has seen a large rise in the number of people seeking to rent, with almost twice the number recorded during March as in the previous month.
"Tenants are being more fussy and particular about where they want to live; they [may] want a property which has Wi-Fi or a garden or off-street parking," Mr Davis explained.
He added that landlords need to respond to these demands in order to attract people to rent their properties.
Can't go wrong with wooden flooring
One item that always has a high appeal is wooden floor covering, not just because it is long lasting (meaning a proper ROI for you as landlord) and easy to maintain. Natural wooden flooring is one of the most anti-allergic floor coverings you can add to your property. Since more and more people are aware of this health benefit wooden flooring gives them, a property that has wooden flooring in most rooms (including bedrooms) attracts a higher rent.
As landlord you have to way up to the costs against the long term benefits. Quality wooden flooring seems more expensive than wall-to-wall carpet, but especially areas where there is less traffic (bedrooms) you can use thinner wood-engineered boards and still give your fussy tenant the covering he/she appreciates and will take better care off:
Some tenants are just not careful enough with property belonging to someone else - a known fact. Another known fact is that dirty surfaces attract more dirt, or in other words: once a carpet looks worn, slightly damaged and dirty nobody is really going to care if it gets even dirtier or more damaged.
However, a floor covering that always looks clean and from which spillages are easily removed tend to bring out the feeling of "ownership". Your tenants will take better care of "their" lovely wooden floor than they will with a carpet. So no more need to replace the carpets every year, saving you a rather lot of money, grievance and aggravation in one simple go.
(from 57 Reasons Why Natural Wooden Flooring Outperforms, Outlasts, and Always Looks Better, than Any Other Floor Covering Available - a publication by Wood You Like Ltd)
10/3 High quality engineered wood
Simple, elegant and long-lasting for an economical price - AND has a 3mm Solid top layer. Prices start at £ 29.36 ex VAT per sq m and the choices are plentiful:
from Oak Rustic and Nature to American Oak in various colours to Walnut Prime and Rustic.
Read here if and why your property can profit from the 10/3 range of wood-engineered pre-oiled floorboards.
Your neighbouring landlord could already have installed quality wooden floors and find tenants willing to pay for the pleasure of having a beautiful floor covering in "their home" quicker.