Adding storage to your investment property is proving to be one of the easiest ways to improve its performance.
Feedback from our leasing team indicates properties that don’t include storage such as wardrobes in bedrooms, adequate pantries or garden sheds are taking longer to lease and getting more negative feedback from prospective tenants than comparable properties.
Homes that don’t have enough storage for clothes in particular are getting quickly struck off the list.
Conversely homes with generous storage are spending less days vacant, attracting a better quality of tenant and achieving a higher rental yield.
Large cupboards are awkward to transport and aren’t usually a personal item, it’s something tenants prefer to have provided. Homes with great storage are leasing more quickly.
Landlords looking to improve their investment performance should seriously consider making this a priority in 2020.