How can landlords attract new corporate tenants?
Corporate tenants are typically considered the best tenants and the most common type landlords choose. It’s because they prefer to have more lavish expenditures, eat out frequently, and overall work extra hours rather than just because they often provide the certainty of regular rent payments. The thought of having a renter who only uses the premises as a mattress for the night is enticing because, for UK Estate Agents, leasing out a home is a profession, and the cost of maintaining a property entirely up to date can be high.
It’s also critical to differentiate between renting to a skilled tenant engaged by a firm that covers the area or all of their tenanted expenses, which would comprise a typical implied warranty rental contract. Leasing to a corporate or business let where a homeowner rents their estate to a corporation for their senior managers who have generally been moved on tasks. Here are the top five suggestions to help users entice and keep these high-calibre tenants because both are considered safer, more lucrative alternatives.
The 5 Ways Landlords Can Attract New Corporate Tenants
At the risk of repeating, the prominent, elite professional tenants demand a well-kept property, beautifully illustrated and of a high standard, with a certain level of convenience and elegance reflected in the equipment and furniture design. After a long day at work, people with higher expenditures and extensive standards expect housing that fits their lifestyles and typically requires a living area with modern comforts. It is undoubtedly beneficial if the estate has outdoor space like a veranda or on-site accommodations like a health club. Many landlords use our expert furnishing expertise when outfitting their rental homes, and 85% of the assets we equip rent out within a week.
2. Expert Management
Most prestigious corporate tenants want a property with a committed property maintenance team when they rent it. They find solace in offering assistance seven days a week to handle problems promptly and effectively for a stress-free renting experience. You must show these tenants, who have busy and demanding lives, that you can give them a comprehensive, expert management system. A licenced agency manages property whose 95% of businesses will only agree to a tenancy with a landlord.
The majority of corporate tenants are computer savvy. Therefore, ensuring your home furnishes the newest equipment and gadgets is crucial. For example, complexes like High Street provide cutting-edge home advanced methods that let homeowners manage everything digitally from a single centre. In most posh places in the UK, the Landmark has comfort conditioning systems built into the flats. Residents of the UK’s well-liked Beautified Park apartments have access to a Dolby sound system in the main rooms, a video door system, and CCTV protection. Integrating the newest technologies into your properties can significantly increase their value while giving you a strategic advantage.
4. Nearby Facilities
Professionals moving with families typically prefer longer leases in family-friendly neighbourhoods, whereas single professionals looking for a lively area with bars and bustling nightlife. When showing them the property, emphasise the nearby good international schools and family-friendly events.
5. Advertising Under Expert Supervision
In this cutthroat rental market, you must advertise your property to the appropriate target demographic and choose a qualified agent with a successful company and migration agent relationships. Marketing can help with this by ensuring that your home receives the proper exposure to this desirable group through traditional and online media, including the leading UK property portals.
The demands of the younger generation of renters for the business space they are renting go beyond just price and location, to sum up. They have an increased need for amenities like high-speed Broadband, fitness centres, and café choices. Coworking spaces that are adaptable and cooperative and that may be quickly altered are receiving more attention. Businesses are attempting to change their cultures through their physical environments. Additionally, they are leveraging it to boost employee involvement, innovation, and retention.
More and more, tenants want to contribute to initiatives to make workplaces more collaborative and to make buildings more environmentally friendly. While some of these things will need some modification, most of them may implement inventively. If you redesign some current spaces and renovate a few others, this group of tenants may choose you first.