A never-ending stream of new tenancies is every landlord’s nightmare, so it is in their best interest to attract more long-term HMO tenants.
HMO property has become a lot more viable and popular as a longer-term housing option in the eyes of tenants, as well as an attractive investment for landlords, so here are 4 ways to attract more long-term tenants:
1) Keep the Property Clean and Well-maintained
Tenants are more likely to stay in a property for longer if it is well looked after and attractive. To achieve this, make sure that repairs are carried out as soon as possible, that the property is clean, and that there is regular maintenance.
This way, tenants know that the landlord is providing them with the best service, which will decrease void periods, and increase the average tenancy duration in the property.
2) Desirable Spaces and Amenities
If possible, offering well-presented amenities like working areas, a living room, parking, and a utility room can help to set your property apart from your competitors.
Additionally, it also increases the attachment that tenants have to the property, meaning that they are likely to stay in the property for longer.
3) Be Clear and Responsive
Provide tenants with accurate contact information so that they can report maintenance and issues as they occur, it is important to be responsive to tenant enquiries, as it shows that you are willing to solve issues quickly.
4) Create a Welcoming Atmosphere
If you are struggling to find more suitable long-term HMO tenants to fill your rooms, try to complement the lifestyles and working schedules of the other occupants. For example, if the current inhabitants are all creative young professionals in their 20s, then try to find a tenant who works during similar hours and is likely to complement the environment of the property.
If you would like to read more about HMO property, read our blog about the benefits of HMO vs. Single-let property
Interested in what HMO property can do for you? Speak to us today and begin your HMO journey.