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In the last few years, being a landlord has become a great deal more difficult. Thanks to regulatory changes, the profitability of renting has dropped significantly. Previously, having a property untenanted for a few months would have been manageable. Now, the tax code changes mean that having a property vacant for even a month can be enough to tip landlords into the red. Therefore, it’s imperative that all landlords in Peterborough take steps to ensure continual occupancy at all times.
Cost of poor connectivity
One of the most impactful ways to increase occupancy is to demonstrate to potential renters that a property has strong and reliable internet. Research has found that internet connectivity is one of the factors that can make or break someone’s decision about whether to rent a property, with a quarter of UK residents saying they would not have moved into their home had they been aware of the internet issues. More importantly, two thirds of properties with good connectivity services are able to be rented at a higher price and / or with a greater yield.
That impact is only set to grow according to research from economic consultancy, Regeneris, which predicts that next-generation internet connectivity will unlock £45m in housing wealth as well as £22m-worth of benefits in worker flexibility for Peterborough.
There’s been a lot of talk about ‘full fibre’ recently but what exactly makes it so special? In essence, it’s the next generation of infrastructure, replacing much of our aging networks that cause irritating, sluggish internet speeds, allowing users to stream TV, play games online or work from cloud-based systems from home with virtually no buffering or lagging.
Many homeowners are already choosing to upgrade to full fibre and renters don’t want to be left behind. Therefore, being able to offer full fibre will be a key factor in attracting tenants and ensuring that properties aren’t sitting empty.
On top of this, full fibre offers a host of benefits for landlords in terms of maintenance and security by enabling smart tech to help ensure that properties don’t fall into disrepair. For example, by using connected devices over the full fibre network, such as smart temperature sensors, moisture meters and alarms, they can capture environmental data and identify issues before they become apparent.
The full works
Understandably, many landlords are wary of upgrading infrastructure when it involves works taking place on their properties. However, at CityFibre, we make every effort to manage any inconvenience caused by construction of our full fibre network. When carrying out work in Peterborough, we work closely with Peterborough City Council to minimise the disruption, utilising modern construction techniques and constructing in footpaths, where possible, to avoid slowing down traffic. Typically, the most time we need to spend on any one road is merely a few days.
So, after minimal displacement or irritation, landlords can benefit from a major competitive advantage when looking for tenants. To find out more about the work that CityFibre is doing in Peterborough to provide full fibre, please visit www.cityfibre.com/gigabit-cities.