Landlords urged to adapt homes to changing tenant needs

A home office or an outdoor seat could help landlords find tenants more quickly, with both features linked to faster lets at a good market rent, one agency reveals.

Even a large cupboard could provide workspace, according to letting agents Leaders, which has outlined changes landlords can make to meet tenants’ changing expectations.

It says demand for somewhere to work from home and private outside space has increased since the pandemic.

It warns that properties which fail to meet changing needs risk longer void periods, more frequent tenant departures and difficulty achieving a good market rent.

Extra bedrooms and offices

Allison Thompson, the firm’s chief lettings officer, said: “Extra bedrooms are something almost 50% of younger tenants are looking for, so look at whether your property has room for conversion or expansion.

“Is there a larger bedroom that could be split into two, or a loft or attached garage that could be converted?”

She added: “As flexible working grows in popularity, having a separate space where tenants can work from home in peace when needed is going to become a more common request.

“Is there a part of a room that could be sectioned off, a large cupboard that could be repurposed, or if you have an attached garage, could you convert part of that?”

Demand for shared homes

Leaders has also noticed growing demand for rooms in ‘professional’ or ’boutique’ houses in multiple occupation (HMOs), partly because of cost-of-living pressures.

These properties accommodate working adults, giving them access to the amenities of a larger home alongside their own private space.

The rent is lower than tenants would have to pay for a whole private flat.

For landlords currently letting on a single tenancy, the agency suggests considering whether the layout could accommodate a future conversion to an HMO if local demand changes.

Heating costs and parking

Tenants are also increasingly looking for homes that are environmentally friendly and affordable to heat, with boiler upgrades and heat pumps among the options suggested.

Parking matters particularly to tenants aged over 55, who rank it among their biggest considerations.

The agency recommends providing at least one parking space, potentially using part of the front garden, while observing requirements for dropped kerbs and any applicable highways and building regulations.

Landlords considering an HMO conversion should check council policies and restrictions, including planning requirements, and allow for additional safety and legal costs.