NEW TENANTS are most attracted to pet-friendly properties, unfurnished properties, and properties with a garden, Landbay has revealed.
In a new survey, the buy-to-let focussed marketplace lender asked 2,000 renters what would make them want to approach a landlord about renting a property, and what would put them off.
Almost one in seven (14 per cent) said that ‘pets being allowed in the property’ was the most important requirement, with women more than twice as likely as men to prioritise pet access. In the North East, a massive 27 per cent of renters said that they want a pet-friendly property, while just three per cent of Londoners listed this as a requirement.
12 per cent of those surveyed said that they wanted an unfurnished home, but this figure varied dramatically across the different age groups. Only four per cent of renters aged between 18 and 34 said that they would prioritise an unfurnished property, compared with 22 per cent of over-55s, suggesting that older renters are more likely to have their own furniture.
Access to a garden was the third most popular attribute for renters, with 11 per cent saying that outdoor space is the most important factor to consider when choosing a home. Off-street parking and the quality of a property’s décor came fourth and fifth, respectively.
On the other end of the scale, just one per cent of renters said that they would prioritise access to a dryer, a king-sized bed, a balcony, or a dishwasher, while just two per cent of private renters consider a new build property as a priority.
“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,” said Deborah Mudway, director at Landbay.
“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.”