Will investing in sustainable developments attract tenants?
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The customer is always right. As a buy-to-let landlord, especially those sitting oceans away from their investment, it is important to ensure that your property remains an attractive prospect for your tenant.
Having real estate in the right area, at the right price, is no longer the only consideration. Tenants want more for their money than ever before, with access to outdoor space and reduced utility bills high on the tick list across the rental market.
Energy Efficiency
When tenants are paying premium rents, they hope to make cost savings in other areas. Making sure your property is energy efficient is not just about saving the environment (although of course that should make you feel good about yourself!), it will also help reduce your tenants’ utility bills.
From April next year your tenants will be able to request energy efficiency improvements in your property. Furthermore in April 2018, the right to let your property will depend on whether you meet required levels of eco-friendliness.
Look for developments with energy efficient white goods, water saving measures such ase eco-flushes, a good level of insulation and access to, or storage for, recyclable waste and compost.
Health and Well-being
Your home is your sanctuary, and the same is true for tenants too. Alongside stylish furnishings, luxury tenants will be looking for properties that promote good health and well-being. Properties that bathe in good quantities of daylight and that are insulated for sound to maintain privacy are highly desirable for both tenants and landlords.
Outdoor Space
In dense capital cities where outdoor space is at a premium, having private and communal areas to relax in will certainly help to attract tenants from the higher end of the market. Well-designed, green outdoor spaces can also add the ‘wow factor’ to properties, as well as adding to the ecology of the neighbourhood.
Sustainable Development Examples
Modern developments like Vista Chelsea Bridge, due to be developed on the land previously occupied by the old Marco Polo building, understand the value of sustainable design. The Vista is a great example of this: the property is sympathetic to the local surroundings with green spaces to compliment Battersea Park – all apartments have a dedicated outdoor space and include energy-saving features. The developer, Berkley, and appointed building service specialist HE Simm, are committed to green energy initiatives, and aim to implement sustainability criteria outlined by the Code for Sustainable Homes.
For more information about Vista, please contact JLL at +852 2846 5782 or visit or website.