You obviously want to make sure that your buy to let property is as attractive, modern and on-trend as possible when looking for new tenants. Marketing a property is a highly important part of ensuring that your buy to let investment is successful, as you want to accept only the best tenants that the city of London has to offer. While Morgan Goldsmith may be a great option to market your estate and vet tenants before welcoming to your community, there are a few things you can take into consideration on your own.
One of these trends is the new love tenants are showing for co-living. While this may not be an option or your property or rental system that you’ve thought of before, it can actually be quite advantageous, not only if you’re just developing your property, but also for your pocketbook. In many ways, co-living rental estates are following the footsteps of more millennial-driven hotel brands. Think of some of the upcoming hotel brands such as Aloft or Moxy. Both are incorporating more public, social spaces for their guests, where they can work, play, eat and live together, before retiring to a private sleeping space. While co-living let estates are quite so extreme, they do follow a similar pattern.
In a co-living space, tenants have their own bedroom and private bathroom, but everything else is shared. Kitchens, living rooms, dining spaces, work spaces, etc. are all shared with a set number of other tenants. The whole building can share more specialized spaces, such as a gym, pool, outdoor space, etc. Almost think of communal living spaces like one would find at a university. The whole outfit can ease up on your costs, especially if you’re creating a new-build letting property, or remodeling a previous letting property. It also can help reduce costs for potential tenants, as they share living costs such as cleaning fees and utilities with other tenants. While some older tenants, or even young married tenants, may shy away from the idea, it’s definitely appealing to young professionals or those just out of university. They love interacting together, building relationships, in a space that is more accessible. It definitely is an easier way to meet other likeminded individuals.
If you think that a co-living rental estate could be the answer you’re looking for to make give your letting estate new life and attract new tenants, give Morgan Goldsmith a call. Our agents can help you market your property in a way that attracts the right tenants, right now.