A workspace is a must for many renters
May 5, 2022
We live in a new era regarding working habits. Hybrid workplaces change how prospective tenants think about their next home. With many employers seeing an opportunity to reduce overheads spent on office space, homeworking is here to stay for many of us.
SHIFTING PRIORITIES FOR RENTERS
For many young professionals in the renting market, a suitable workspace is now seen as a vital component when in the market for a home. With many young people opting to have children later in life, if you can tap into this renting market, you can advertise your property portfolio accordingly.
There are plenty of guides that discuss the value of staging and gaining good light levels within a property. To attract a renter, show how your property is an excellent place to work as well as to live. This might have more value than a second bedroom, especially considering the single person discount that comes with council tax.
SHOWCASE THE WORKSPACE
Whether or not you’re offering a furnished property, ensure that your marketing to letting agencies includes desks and working areas, where possible. Showing renters that your property can accommodate work and home life drives more qualified inquiries.
SHOW THE LOVE
One of the major turn-offs for people is properties that haven’t seen any love, with outdated décor or tired fixtures and fittings.
There are plenty of places to look for inspiration online to give your property a more desirable appearance without spending a considerable amount. It makes all the difference to increase the desirability of your rental property.
The rise in energy bills is the latest challenge for renters and home workers. Landlords should consider making their properties more covetable through better energy efficiency via double glazing, insulation and energy-efficient boilers.
If the distance from an office is no longer a priority for people in the rental market, landlords will have to think about what else they can use to make their property stand out from the crowd. The conditions of the pandemic have shown us to value in the places that are right on our doorstep.
THE MOVE FROM CARS TO BIKES
With private car ownership lower amongst millennials, having good public transport links nearby is a necessity for prospective renters. And for many prospective tenants, as writer Chris Smith states in his blog ‘cycling is the new driving'.
A bike hangar shortage has got Londoners storing their bikes in corridors, bedrooms and even toilets. Currently, 60,000 Londoners are on the waiting list to get a spot in a storage hangar nearby. And now, they’re taking to social media to raise awareness of this problem, using the hashtag #ThisIsAwkward.
So a property with secure cycle storage could give you the edge. There are plenty of storage solutions for limited spaces, both inside and out.
As the housing market keeps many people from buying their own homes, the properties best suited to the way people live and work now, are the ones that will be in greatest demand.