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  • Buy-to-Let

    Accessible property

    Has anybody on tribes developed a portfolio aimed at tenants with disabilities? II have been thinking about this as I'm sure there is a niche there. It most likely won't be incredibly lucrative (unlike multi lets) however a large proportion of the population has some form of disability and I've never seen any adverts on gumtree Rightmove that mention it. I'm sure some landlords would deliberately avoid renting to tenants with disabilities, due to the additional costs or having to comply (by law) with reasonable requests.

    I imagine that once the house is set up and any modifications necessary made, you will have a long term tenant - further improvements if their situation changes are unlikely to remove value and you will end up with happy long term tenants - after all, it's the voids that are the killer for any investment property.
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    Professional student and residential lettings in Liverpool.
    http://www.topproperty-services.com
    Twitter: @ToppropertyUK
    Simon this is a really good point. I suppose a lot of people with disabilities will get council houses but if you were to work with the council you may be able to get some nice long tenants. I think we need to start looking long term at what will be needed that the councils cannot supply I think low cost housing for pensioners is another niche. Niches are good. What does everyone else think?
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    Trying to provide decent homes for decent people
    Hi Simon,

    I think "niche" is always a good thing.

    It allows you to specialise and dominate.

    It means that you can laser point your marketing.

    We have a related discussion:

    Is a niche strategy the true way to financial success?

    I found this useful post >>> 25 experts were asked what is "niche"? .... Here are some of the responses:

    1.) Seth Godin explains a niche as “if it’s not mass, if it’s just for some, not all, it’s a niche.”

    2.) Jeremy Jones says a niche is a specific target marketed topic you can become known for

    3.) When I asked Jim Cockrum, “what is a niche“? His responses, ”Great question. From an online marketers perspective (my perspective specifically) a”niche” is a topic, item or concept that has the potential to be an online rallying point for those with similar interests and needs related to the given topic, item or concept.”He added; “The true opportunity in niche marketing is for the leaders, mavericks, and trend setters in those niche markets. Done well, you can become a trusted source of information and leadership on virtually any topic, item or concept as long as there are others online with similar interests or curiosities.”

    4.) I define a niche as simply “a specialized area of interest.” On the Internet, at least with my customers, I have discovered that the businesses that have a more targeted, laser-focused niche do better than those with a vague, walmart-like goal. While a niche product has a smaller potential customer base, it also has fewer competitors to rise above. – Eric Spellmann, founder of EricSpellmann.com.

    5.) A niche is a defined marketplace and targets a select segment of a larger group. In the social media sphere, aniche is a group of people that share common interests, hobbies or professional associations. Often times these special groups incorporate community guidelines. Brands can utilize niches to drill down and target consumers in less congested environments other than Facebook and Twitter, like Instagram, Pinterest and Foodspotting. Bob Speyer is the co-founder of WebSuccessTeam.com.

    6.) A niche is defined as a narrow target market. I think the word niche means small and focused. A niche can be described by a variety of demographic, psychographic and geographic qualifiers. While some people might define your niche by the products or services you are selling, to me It is more about who you are selling to rather than what you are selling. A very broad niche might include a whole industry: Computer users. Automobile drivers. Architects. A more narrow niche might be: First time mothers of twins with ahousehold income of over $70K. Chris Brown, Founder of Resources-Results.com and Branding & Marketing.

    7.) I’d define a niche as a sub-segment of a greater audience. There’s marketing, then there’s the niche segment of digital marketing. Beneath that, a niche segment of social media marketing and so on. It’s a portion of the audience that doesn’t share all the characteristics of the greater whole. Fair? Jason Falls ~ SocialMediaExplorer.com/

    8.) John Saddington from TentBlogger.com simple puts it like this: Niche – a specialized but profitable corner of the market.

    Read more >>> here.

    So, I would imagine that your idea has legs. Perhaps contact some disabled charities and ask them for their views on this and what sort of modifications a property would require?

    It is also worth noting that all new build houses are set up for disabled access anyway, in the respect of that the halls have to be wide enough for a wheelchair.

    Bungalows are popular for obvious reasons, because they don't have stairs.

    [Image: house.png]Related content:

    The humble bungalow on life support

    The grey £ in property

    Could your property make more money as a holiday let?
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    I have thought about this and hit a few issues….

    There is no way to advertise accessible property on RightMove so that tenants with disabilities can find them easily.

    Disabled people expect to get discounts due to being disabled, but I would wish to charge more.

    When the property is empty, how long do you wait for a disabled tenant before putting a “normal” tenant in?

    Good wheelchair access is mostly about space, but larger properties cost more.

    My wife is disabled so we wished to live in a bungalow, after moving for work, we were forced to buy sooner then we may have, as there are very few bungalows on the rental market. However as a landlord I would not choose a bungalow as a BTL due to the low yield on them in our area.

    I am buying a property to convert into a HMO, I could make one room wheelchair accessible, but can’t see how I will get the return on investment for doing so, as it will take the space of one and a half normal rooms, but I can’t charge more than a 1 bedroom flat.

    However accessible holiday lets work very well and the holiday let websites have a way for customers to find them.
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