In today’s digital age, broadband has become a necessity for most people. From communication, entertainment, education, and work, over 5.4 billion people across the globe rely on it on an everyday basis.
Therefore, offering fast and reliable broadband as a part of your rental package can actually increase your property’s appeal.
In this article, we’ll discuss why high-speed broadband is now a crucial factor in attracting tenants and how it can enhance the appeal and profitability of your rental property.
Modern Tenant’s Expectation
Due to the advancements in information technology, the way we live has transformed completely in the past two decades. Now, the Internet has become an integral part of daily life, which is why many tenants who prefer a modern lifestyle expect broadband to be a part of their rental package.
If it’s not offered, tenants will need to arrange it themselves, which can be an inconvenience. However, if you do provide it as a standard offering, it’ll set your property apart from the competition, making it more attractive to prospective tenants.
Remote Work
The global shift towards remote work, especially after the COVID-19 pandemic, has greatly increased the importance of residential broadband. Many people in Sunderland now work from home, either full-time or in a hybrid model and they need constant and reliable internet access to perform their jobs effectively.
As a landlord, you can offer high-speed broadband to attract tenants who work remotely, especially professionals in the tech industry.
Entertainment
According to recent statistics, more than 53% of people use the internet for entertainment purposes, like watching movies, TV shows, and videos. It means that high-speed internet is crucial not just for work but for everyday enjoyment as well.
Including broadband in your rental package will allow tenants to enjoy these services right away, without going through the hassle of setting up their own internet.
Keep in mind that most families have multiple devices, such as smartphones, tablets, and laptops, that connect to the internet at the same time. Therefore, it’s important to look for the best broadband deals in Sunderland to make sure that the internet you offer can handle the demands of multiple users.
Smart Home Technology
Smart home technology is yet another factor that has increased demand for residential broadband in recent years. If your house is equipped with smart devices such as thermostats and security cameras, it’s advisable to provide a reliable internet connection to support their functionality.
On a side note, 79% of people looking to rent/buy a home in the next five years want a smart home. By adding smart devices to your property and offering dependable broadband, you can enhance its appeal and set it apart from others in the market.
Financial Benefits
Investing in high-speed broadband can also offer financial advantages for landlords in Sunderland. That’s because all tenants value convenience, and a rental deal with a reliable internet connection provides that. It can justify higher rents, which means it can increase your chances of securing a better deal.
Additionally, adding high-speed and reliable broadband to your property can also increase its value, by up to £3,500. In simple words, it’s a smart investment that not only improves your property’s appeal but can also provide long-term financial benefits.
Competitive Rental Market
As a landlord in Sunderland, you’re likely aware of how competitive the rental market can be. So, you need to take advantage of every opportunity available to make your property stand out. One excellent way of achieving that is to offer fast internet as part of your rental deal.
It’ll give you an edge over other properties, especially if other listings in the area don’t provide this feature. In fact, it can even be the deciding factor between two similar properties for tenants.
Tenant Retention
Retaining tenants is extremely critical for landlords because it reduces turnover and the costs associated with finding new renters. A stable tenant base ensures consistent rental income and minimises the effort involved in managing vacancies.
Offering high-quality internet yet again comes into play as it won’t only help you attract new tenants but can also improve tenant retention. It’s especially important for people who work from home or rely on the internet for daily tasks like education, or communication.
Marketing Tool
When advertising a rental property in Sunderland, you can use the availability of fast broadband as a selling point. Highlighting this feature in listings, brochures, and/or online ads can catch the attention of tech-savvy tenants.
It can help you fill the vacancy faster to minimise potential income loss and keep your property generating revenue.
Future-Proofing
Digital technology is evolving at an unprecedented pace, and the demand for reliable broadband will only grow in the coming years. That’s because more bandwidth is needed for modern streaming services like 4K and 8K content, smart devices with AI capabilities, and the increasing use of cloud-based applications.
Therefore, tenants will require fast internet for everything from work to entertainment and home automation. By investing in high-speed broadband now, you can future-proof your property to make sure it remains attractive and competitive in the rental market for years to come.
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