Savills Portugal

Greater choice has prompted a power shift in the rental market in recent years and in Oxfordshire and the wider Cotswolds, now is a good time to rent. Such favourable conditions have bred a new and uncompromising tenant, one who is demanding more and is taking the time to shop around in order to get it.

In the last three years, the average number of viewings required to let a property in the area has risen by 45 per cent to an average of eight. We are also seeing a shift in attitude as renters, traditionally quick moving, are putting more time and energy into their decision-making.

The new landscape is keeping landlords on their toes, as they undoubtedly have to work harder and be more flexible in order to secure the best tenant. On the plus side, tenancy agreements are increasingly covering extended periods, as our new tenant is willing to commit to a longer term let for the right property.

The weekender market is strong in this part of the country and these tenants tend to be the most demanding as their move is usually considered a want rather than a need.

Top of the wish list is a property they can lock up and leave, with easy access to London. A swimming pool, tennis court and an impact driveway are always desirable as tenants are usually signing up for some time. Fast and reliable broadband is also essential: landlords should expect to be asked about speeds, as a slow download or upload speed can be a deal breaker.

The Soho Farmhouse effect is still strong here – a number of our tenants are already members of the club and are looking to maximise on the lifestyle benefits it offers.

Top tips for landlords

While budget remains an important consideration for tenants, condition is king. Tenants are shopping for, and expecting to see, a high-quality finish throughout with a high-spec kitchen often crucial.
With a greater number of tenants working from home, good broadband speed is essential.
Appliances and storage space should all be of good quality with the latter preferably built in.
Neutral and professionally installed window soft furnishings are important. If these are not supplied, prospective tenants will be factoring this cost into their decision.