Saturday June 25, 2022
How to stand out in today’s rental market
Published : 15 Feb 2022, 14:15
Updated : 15 Feb 2022, 14:40
Like most things in life, the rental market has also been affected by the global pandemic. In Finland the pandemic has caused the rental market to be flipped upside down. As an investor or landlord it might be hard to navigate the new market. Tenants are looking for specific things in rental housing with the help of web services such as Rentola. That’s one of the reasons why it is important to stand out.
How has the market changed
Rental market is naturally affected by the supply and demand. When one of these changes the whole market is affected. During the past two years both supply and demand have changed.
Investing in housing has increased and gained popularity all over Finland in recent years. This means that supply in the rental market has gone up. Tenants now have lots of choices when looking for a new rental apartment or house.
The demand however has decreased. Remote working and studying means that less people have moved or looked for a new rental apartment. However, with the pandemic getting closer to its end, the real estate market is expected to recover as well. Already the demand in rentals is slowly going back up.
Changes in supply and demand mean that tenants are in control in the rental market right now. Before landlords could rely on a long list of interested people when renting out an apartment. Now it could be challenging to find a good tenant at all. This is why it is important to know what tenants are looking for.
What are tenants looking for in today’s rental market
With the changed rental market, tenants are in an excellent position. This means that landlords need to think about how to attract tenants. Tenants aren't necessarily looking for anything new. However the shifted balance means that they are in position to choose. A person looking for a rental doesn’t need to make sacrifices anymore.
Space is something that tenants are continuously looking for. Especially when finding a long term rental. This can be a bit challenging for investors and landlords because apartments built in recent years are getting smaller and smaller. So having more square metres can make or break the deal when it comes to rentals.
Money of course continues to play a big part in the rental market. Rents have been going up steadily in recent years but the new situation in the market has given tenants more leverage in this too. Many landlords have held back with increasing rents in their apartments in order to not lose good tenants or to attract new ones.
One of the main recruitment for tenants is location. For years now demand has been higher for rentals in bigger growing cities. People move to bigger cities for studies or jobs. New apartments are mostly built in these growing areas though so the housing investors and landlords are in a good position when it comes to location.
With Rentola you can easily find your next tenant. People looking for rentals can search with for example location, rent and rental type to find their next rental place. Filtering out properties that match their needs and wishes is made easy. This way as an investor or a landlord you can also find suitable tenants for your properties more easily.