With so much financial uncertainty and mortgages becoming increasingly difficult to get for first time buyers without a hefty deposit, families in search of their first family home are having to consider other options. Renting a property has a lot of advantages for families as it gives you not only a roof over your heads but it can be cheaper, less of a commitment and more flexible. Plots in Nagpur
But why should landlords consider renting to families?
Whilst you might think initially that renting a property to a family might be a challenge, there are lots of benefits to renting to a family unit. Firstly, whilst renting is more of a flexible option, a family is far more likely to settle in a property for longer, particularly if the children go to a school in the local area. There is also the likelihood that a family will be more reliable and less likely to cause hours of property management issues. Plots in Umred Road, Nagpur
How can landlords attract family tenants?
The most important thing is that the house and any outside space are child-friendly. A garden is a big factor for families when choosing a property, so a nice, safe, well-kept garden will be really attractive to potential tenants. Make sure that any outdoor space is tidy and that all fences or walls are secure and ensure that there anything potentially harmful for young children such as old out buildings or ponds are removed. Residential & Commercial Plots in Umred Road, Nagpur
Inside the house, ensure again that it is a safe and secure living room by checking for anything potentially hazardous to children such as broken bannisters or handrails. For young children, you might even consider adding additional safety features such as child-locks on cupboards doors and windows. NMRDA Sanctioned with RL, Residential & Commercial Plots in Umred Road, Nagpur
Once your tenants have moved into your property, maintain a good relationship with them by maintaining the property. Don’t forget that you will need insurance and you can compare landlord insurance to make sure you get the best deal available.
Check to see what the schools are like near your property. Schools and childcare providers are often a big selling point for parents and if you own a property that is in the catchment area of a good school or nursery this will immediately attract parents to your property.
A good family home is a flat or house where all of the space is utilised. Consider whether or not you have additional rooms that could be used as an extra bedroom for larger families. Maybe you have a room that would make a good study or games room for families with older children? What about a garage? Garages are rarely used for cars anymore, so could it be used to create even more space or an additional room?
How flexible will you be once you have a family living in your property? It is important to set very clear boundaries from the beginning but maybe by being more flexible and allowing tenants to redecorate or maybe have a pet in the home, this might make them feel more at home. And hopefully, happy tenants will stay longer and make life easier for you, and allow you to make the most out of your rental property investment. Best Builders & Developers in Nagpur