It is definitely a renters market now. The banks are putting up so many barriers that it is hard for people to get extra capital as a large percentage of deposit that the banks are demanding.
With more and more people opting for rent Edinburgh means more responsibility on landlords, also the fact that finding the right kind of tenant these days is a matter of luck. The area, street and the size of your property to rent in Edinburgh will dictate the type of tenant you will be getting. So for example, if you have advertised your property on a scruffy street as “for rent Edinburgh”, chances are that it will attract students and not working professionals or families. On the other hand if your property to rent in Edinburgh is in an area likely to please anyone, then you can influence your kind of tenant by decorating and furnishing it in the way they like it. For example a trendy approach is more likely to attract professionals.
Targeting a market of tenantsFirst and foremost you must be crystal clear with regards to your targeted market. Whether it is students, young professionals, families, company lets etc. For this purpose it will be helpful if you seek guidance from a local letting agent with regards to the type of tenant your property is likely to attract. Once you have this knowledge you can tailor your property according to the tenants tastes and needs.
What do students want in a property?A common trend among students is to go for houses with more than three bedrooms so that they can split the rent. Mostly, they need a blank canvas they can add their own character to, however they usually require furniture in the property.
What do families want in a property?When it comes to families they are more than likely going to have their own furniture. Moreover, they will expect the house to be much more than just basic. For example, it should be in good decorative order, well-presented, have a garden and importantly clean. Another deciding factor for families is the proximity to schools as most of them have kids.
What do young professionals want?A garden might not be important for them but they will definitely want the basic furniture in the property. Professionals prefer properties with plain but smart decor.
What do company lets want’they will want the property to be clean with well presented space and expect it to be recently furnished. They might also provide their own furniture but this is not always the case.