Maximising rent collected in a residential building usually boils down to one core element: keeping the tenants in situ happy. The more “at home” they feel, the more likely you are to retain their custom, which means:
- Accepting rent increases
- Minimising revenue lost through void periods
- You won’t have to spend time and money finding a replacement tenant
- Your staff can continue to build on their relationships with existing tenants (which can be very useful for resolving issues quickly and calmly)
For a great number of renters across PRS, PBSA and BTR, tenant amenities play a huge part in their happiness. According to research by Knight Frank and UCAS, 91% of students claimed the facilities on offer influenced where they chose to live.