The Benefits of Being a Family-Focused Landlord

One of the most significant trends in the lettings market over the past 25 years has been the rise in families renting. 

Data shows that almost a quarter of all children (3.2 million) now live in rental accommodation*. This is up from 1.1m in 2000/2001.

Historically, some landlords avoided letting to families due to worries about potential damage and wear and tear.

It’s a policy we never understood–there are lots of reasons why families can make great, long-term tenants–and which is now illegal.

The Renters’ Rights Act explicitly bans the practice, and any clause in a tenancy, mortgage or superior lease that bans children is now unenforceable. (A ‘no children’ clause in an insurance contract only has effect until the insurance ends or is renewed, whatever happens sooner.)

So, what are the benefits of renting to families, and how can landlords cater for this important demographic? Let’s take a look.

Benefits of letting to families

Upkeep: Parents want to create a homely environment for their children, meaning they tend to take good care of their surroundings.

Stability: Once children are settled in childcare or school and have a strong network of friends, parents are usually reluctant to move. Younger renters, on the other hand, can be more transient and move on after a period to explore a new area or to go travelling.

Home-sweet-home: While families tend to spend more time at home, they’re less likely to raise the roof with wild parties.

What do families look for?

• ·Energy efficiency features can be a real advantage for families navigating the cost-of-living crisis.
• ·A well-maintained, low-maintenance outdoor space (bonus points if it also has a secure shed).
• ·Good storage.
• ·Proximity to good schools, parks and leisure facilities.
• ·Durable, easy-to-clean floor surfaces.
• ·Good security measures.
• ·Clean and modern interiors.
• ·A responsive and professional landlord. If there is a problem, parents want reassurance that it will be resolved promptly.
• ·Tenants are much more likely to feel a strong attachment to a property if they can add their own personal touches (such as paint the walls). They’re then more likely to want to stay, meaning you’ll have fewer void periods to worry about. Just make it clear that tenants can make changes without your permission and that the property must be returned to its original condition when they move out.

If you’d like to know about how we can help you manage your rental property and make your life as a landlord easier, get in touch today.

*Resolution Foundation