A new study of 2,000 private renters across the UK has revealed the most and least popular attributes for rental properties, offering insight to landlords on the wants and needs of their tenants.
According to the research from buy-to-let focussed marketplace lender, Landbay, a home being pet-friendly is the most desirable attribute in a rental property with 14% of renters rating ‘pets being allowed in the property’ as their most important requirement.
That figure nearly doubles in the North East (27%) but shrinks to just 3% of renters in London. Women are more than twice as likely (18%) as men (8%) to prioritise a pet-friendly property.
A home which is unfurnished comes second, with 12% of renters saying this is the most desirable attribute. Perhaps tellingly, renters aged 55 and above (22%) are five times more likely to consider an unfurnished property as crucially important than those aged between 18 and 34 (4%.)
A garden was third, with 11% of renters rating outdoor space as their most important attribute. Parents (15%) are more than twice as likely to prioritise a garden compared to non-parents (7%.) Off-street parking and the quality of a property’s décor came fourth and fifth respectively.
Having a dryer came bottom of the list of most desirable attributes with just 1% of renters considering it key to their home. A king-sized bed, a balcony, and a dishwasher also polled just 1%. Just 2% of private renters consider a new build property as a priority.
Top five attributes
1: Pets allowed 14%
2: Unfurnished 12%
3: Garden 11%
4: Off-Street parking 9%
5: Quality of décor 7%
Bottom five attributes
1: Dryer 1%
2: King sized bed 1%
3: Balcony 1%
4: Dishwasher 1%
5: New build
Deborah Mudway, Director, Landbay said, “This will make interesting reading for landlords, who could be forgiven for believing little luxuries like a dishwasher, dryer and even a king-sized bed make all the difference for tenants. In fact, nothing could be further from the truth.
Landbay is investing in a research series to help landlords understand tenants and opportunities within the private rental sector. This edition shows renters value two key attributes above all others that are fundamentally free to bring in. In short, they want to make their property feel like home by bringing both pets and their own furniture with them. The reality is, aside from a deeper clean at the end of a tenancy, this really isn’t hard for landlords to implement.
Essentially, landlords knowing what renters want can make for a happier, more prosperous relationship which benefits both parties in the long run.”