There are many things for landlords to consider when buying an investment property: location, transport, amenities … Now, broadband speed joins that list.
Under ten years ago, internet speed was seldom part of a tenant’s wish list, but now, it has become an intrinsic part of our lives.
For professionals who work from home, students who research online, even children completing their homework, a stable broadband provider is fundamental for accomplishing everyday tasks.
Fast Broadband a Property Essential
Fast internet access can have a real effect on whether a prospective tenant finds a property appealing. Particularly, students give internet access a high priority on their lists, and will not rent a property if there is not fast service.
London-based letting agents Benham and Reeves conducted a poll amongst their tenants to uncover how important this issue really is.
The research found that all tenants across Benham and Reeves’ 11 offices, expected broadband to be available in their rental property. Not every tenant enquires about the availability before letting.
Tenants renting within the City and Canary Wharf specifically asked thorough questions about the internet, and all students request information about the broadband provision in a property. An increasing number of people renting in central London are asking whether a property has fibre optic broadband.1
Fast internet is clearly of great importance to tenants, and a necessity for students. Having inadequate broadband could be a deal-breaker.
Tenants should not attempt to improve their services alone, however. Tenants who put up their own satellite dishes can be asked to take them down, due to health and safety.
The broadband speed of a rental property can be checked at: http://www.uswitch.com/broadband/speedtest/?gclidCO3cmP26grsCFQUHwwodyTEAeg
By entering the postcode of a property at this address, the upload and download speeds can be tested, and can be used by both landlords and tenants.
The speed of a property’s broadband is becoming more and more essential for tenants, and it is important to remember that the advertised speed is not always the one available. If you’re investing, it may be worth testing out the broadband in the property before purchasing.
Having insufficient broadband speed can fail to attract renters as quickly as initially thought.