The need for family-sized rentals
Much has been said surrounding the imbalance in supply and demand in the private rental market. Currently four to five tenants are vying for every property. However when it comes to family-sized properties the demand is even higher thus presenting a real opportunity for landlords considering expanding their property portfolio.
When it comes to conjuring up an image of a typical tenant many tend to envisage a young professional or young couple, looking for a city-based pad.
However as many wannabe homeowners continue to struggle to get on the property ladder landlords are encouraged to look beyond the stereotypical tenant and begin to cater for families.
“Renting to families can be a great opportunity to landlords”, explains Rob Denman, Head of GW LET at Goldsmith Williams.
“Not only is this a somewhat untapped market, families are typically less inclined to move on as quickly as younger tenants. This could therefore reduce the risks of void periods.”
Content correct at time of publication