In the London rental world, one size certainly does not fit all. Just as every individual is unique, so too are the residents seeking their next home. Tenant personas are crucial in making the most of your investment; if you know exactly what kind of resident will be renting your home, you can quickly identify how to position, upgrade and market your home and achieve ultimate success.
In this blog, we'll be diving into four resident personas and how you can position your property to attract and retain them.
Let's get into it!
The Working Professional
The working professional is all about convenience and location; they're often young, ambitious and regularly commuting in and around the city for work. The post-pandemic shift towards hybrid working has meant that working from home space has fast become a necessity for them.
You'll find this profile pursuing the larger side of a one-bed or two-bedroom, usually using the second bedroom as a home office or sharing with a fellow professional.
Part-furnished is the way to go here, especially as this resident likely wants to avoid the relocation price tag on larger items. Think beds, wardrobes and, if you really want to appeal to the working professional, a desk.
Property features that attract the working professional persona
- Plenty of plug sockets for working-from-home devices (four double USB C sockets per room)
- Dishwasher (because no one wants to do dishes after a long day at work)
- Part-furnished (beds, wardrobes and desks)
DINK (Double income no kids)
A couple with a double income and no children often has more flexibility when choosing a rental home, and their preferences typically revolve around convenience, lifestyle and specific amenities that cater to their needs.
This persona has the extra income to go more high-end than the others; think large one-beds or two-beds with outside space and purpose-built apartment complexes offering amenities like swimming pools and gyms. Think stylish features and a modern finish for this persona. It's worth mentioning although children have not made an appearance yet, pets might of, consider making your property pet-friendly to attract and retain the DINK persona.
Part-furnished or unfurnished works in this case; although budgeting is always somewhat necessary in London, the DINK persona isn't as budgeted as other personas, so investing in their furniture won't be off the cards.
Property features that attract the DINK persona
- Modern interior (especially in the kitchen and bathroom)
- Focus on stylish fixtures (black bathroom features, contemporary light fixtures etc).
- Consider allowing pets
- Part-furnished or unfurnished
The Family Nester
Family Nesters value space, safety, and functionality. They're looking for low-maintenance gardens, proximity to schools and enough space to fit a table for a night of family dining.
This profile is after semi-detached house living or the larger side of basement flats, often opting for an unfurnished option as they're prepared to invest in personalising the property because they see it as a long-term home.
They're big on security, given that children are involved, so they'll appreciate your property's safety features more than any other persona. Functionality is essential. Think dishwashers, washing machines, tumble dryers, and any white good appliances that'll make their life just that little easier. Consider integrating them, too, to avoid any little hands touching the wrong buttons.
Property features that attract the family nester persona
- Safety features (outdoor sensor lights, sash stops and thumb-turn locks)
- Functionality, especially in the kitchen (dishwashers, tumble dryers and any other time-saving appliances)
- Unfurnished (remember, they want to make this house their home)
The Student Seekers
The September movers. We typically see an influx of students and graduates knocking on our doors from June to August. Usually, because the summer semester has ended, they search for new accommodation in the cheaper side of London locations but with good transport links.
This profile much prefers to house share, think two to four beds and whilst your family nesters gage more towards high-end, luxury fittings, your student seekers are often happy with a reasonably modern, more basic space.
Fully furnished is the option they'll go for; simply down to cost. Studying or working in a graduate job isn't your life's most financially rewarding time. You don't have to go high-end or luxury either - basic, good-quality furniture will do the trick nicely.
Property features that attract the student seeker persona
- Separate washer and dryer (especially when you're renting to 2+ residents)
- Plenty of plug sockets for working-from-home/studying devices (four double USB C sockets per room)
- Fully furnished, the more, the better
Everyone is unique, and no resident is the same, but it's worth considering each persona's different needs and requirements if you want to make your rental investment stand out from the rest.
If you would like further support on how to identify your property's tenant persona and how you can work towards attracting and retaining long-term residents, get in touch with our lettings team!
Whilst you're here, why not check out "Budget-friendly rental property upgrades with high ROI!" and our latest "Refurb Success Story"