Creating Hassle-Free Rentals for London Landlords
- Jacob Littorin
- Apr 22, 2024
- 5 min read
Hi 👋
Investing in London property and maximising the return on that investment is not a walk in the park. As a London landlord, how do you create hassle-free rental properties?
I invited Daphne Shen, London-based Residential Interior Design Specialist, to share her insights on how she works with London landlords - many whom are based overseas - to help them create desirable rentals with the right furniture. Moreover, I dug deep into five articles on what London tenants desire the most in their rental property. The conclusion is presented at the end of this article.
As a Taiwanese professional with an art and design background, I bring a unique approach for delivering personalized solutions for overseas landlords, and particularly the Asian clientele, in the London property market. Here are my tips for creating hassle-free rentals.
How to choose the right furniture package for the property
International clients often have specific preferences and requirements when it comes to choosing the furniture package for their rental property.
Some common needs include durable yet stylish options that can withstand frequent use by tenants or homeowners. Additionally, clients may seek furniture packages that reflect a certain aesthetic or design theme, whether it's modern, traditional, or culturally inspired. Unusual needs might involve accommodating unique cultural customs or preferences, such as incorporating feng shui principles into the furniture arrangement.
In my experience, providing customizable furniture packages tailored to the client's preferences and the property's target demographic has been essential in ensuring client satisfaction.
How to let the property faster and raise the rent
Renting a property quickly and for a higher rental rate often requires attention to detail and strategic marketing. One particular situation I encountered involved an international client who owned a property in EC1V (Islington).
By leveraging my background in art and design, I collaborated with the client to enhance the property's visual appeal through thoughtful staging and decor choices. Additionally, we implemented targeted marketing strategies aimed at appealing to the preferences of the local and international tenant demographic.
As a result, the property garnered significant interest, leading to faster rentals and higher rental rates compared to similar properties in the area.
When staging is strategic
Home staging can be a valuable tool for showcasing the full potential of a property and attracting potential tenants or buyers. In my experience, I've found that home staging is particularly beneficial in situations where a property is vacant or lacks visual appeal.
For international clients looking to rent out their properties in the UK market, home staging can help create an inviting atmosphere that resonates with a broad range of tenants. Additionally, home staging can be especially effective when targeting specific demographics or niches, such as young professionals, families, or luxury renters.
Ultimately, the decision to stage a home depends on factors such as the property's condition, target market, and budget constraints, but it can significantly enhance the property's marketability and rental potential.
Thank you for being my guest on this article, Daphne!
I went on Google and searched for what features that London tenants desire in their rental property, and found 5 relevant articles. Determined to dig deeper, I analysed the articles to establish a common ground. See my conclusion at the bottom.
In September 2017, Simply Business - one of the UK's largest landlord insurance providers - listed the top 11 property features to attract tenants.
Tenants look for light unconsciously, where natural light goes a long way. In addition, a clean look and feel along with modern appliances - white goods - in the kitchen and bathroom. Accessibility is important, to amenities, public transport, or major roads. The property should ideally have high-speed internet for work and entertainment, be pet-friendly (for long-term renters), and have outdoor space of either a patio, balcony, garden or communal garden. Moreover, storage space options (for long-term renters), a feel of space in smaller rooms, and parking were desired.
In December 2019, LandlordTODAY reported that out of the 1,000 younger UK tenants surveyed by Glide in a research, a growing number expected landlords to take greater responsibility for basic amenities.
At the time, in 2019, 34% of under 25s would call their landlord to change a lightbulb, despite that it is generally an obligation of the tenant unless specified otherwise. 14% of tenants expected landlords to step in to resolve arguments over bill payments. 23.2% said they tend to leave a dispute over parking up to the owner of the premises. 21.9% said they believed their landlord should be responsible for fixing their Wi-Fi.
This means - for landlords - a continuous emphasis on the importance for both parties to receive clarity about which issues will be addressed by whom in the terms of the rental agreement.
In March 2020, BTR News - a leading UK build-to-rent publication - reported on the desirable features for different age groups.
The under-25s want convenience. It means social living, health, and wellbeing. Features are an on-site gym, roof terrace, communal areas, outdoor spaces, and social events. In addition, a laundry service and a fully furnished property are very much welcome.
The tenants aged 25 to 40 want wellbeing and exercise. It means an on-site gym, leisure activities, car parking space, as well as communal social activities. The 40+ wants free time and family time, with options for outdoor activities in a social community.
For all age groups, desirable property features include an ensuite bathroom, weekly cleaning, car parking, gym, communal garden, and social places.
In August 2020, LandlordTODAY reported statistics published by London-based agency Benham and Reeves on the most important features of a rental property for renters in 2020. The intriguing pandemic-influenced result - from the over 1,700 tenants surveyed - was compared with the results of the pre-pandemic 2019 survey. The most important rental features were in 2020...
Fast broadband (previously 2nd choice).
Outside space (previously 7th).
Close to a park or outside green space (previously 9th).
Concierge or onsite security (previously 3rd)
Excellent transport links – max 9 minutes’ walk to a station (previously 1st)
Supermarket either onsite or within 250 yards (previously 4th)
Professionally managed property (previously 8th)
Air conditioning (previously 10th)
Cinema screening room (previously 5th)
Gym (previously 6th)
The highlighted tenant's choices changed a lot between 2019 and 2020.
In October 2022, London Shared - a lettings expert company making business smoother for landlords - shared the 8 things tenants want from their London rental.
Location is vital, to no one's surprise. Plus, safety and security: low crime rates, alarm system, CCTV, and robust locks for ease of mind. Outdoor space is desirable, either a patio, balcony, or garden, along with access to parking. The property itself should be pet-friendly to accommodate long-term renters and have an office space - or a convertible office. The interiors, in particular, should be well-maintained where upgrading the small features can go a long way.
In conclusion, these desirable features - ordered in groups - were mentioned the most in the 5 articles:
Outside space: green space, park, garden (private or communal), patio, and balcony.
Wellbeing: gym, social/communal places, community, along with a maintained and upgraded property.
Safety and security: robust locks, alarm system, and safe parking.
Habitable home over time: storage, pet-friendly, convertible spaces after need (e.g. for home office), along with the feeling of space and light.
Convenience: easy access to transport links, major roads, amenities, and support in the property with small fixes and upgraded appliances when necessary.
For creating hassle-free rentals with long-term tenants, these five features seem pretty reasonable for landlords to shape happy London homes. 💜
Reach out to me for all things property through social media DM or email jacob@jacoblittorin.com.
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