With rental income shrinking for the first time in a decade, landlords need to consider what their tenants truly value in a property.
Rental income fell by £1.9bn from 2017 to 2018, according to a report from Hamptons International – the first year-on-year decrease since the firm’s records began in 2008.
The fall was most drastic in London, where tenants paid £620m less in rent last year than they did in 2017.
Though the private rental sector has expanded over the past 10 years, it’s important to do everything you can to meet tenants’ needs if you want to stand out in a competitive market.