17 Sep 2019
The most desirable rental property attributes revealed
A UK-wide study of 2,000 private renters has revealed the most and least desirable rental property attributes, providing an insight for landlords on what tenants are looking for.
The top five most desirable attributes:
1. Pets – 14%
The research conducted by Landbay, marketplace lender for residential buy-to-let mortgages, found that being pet friendly is the most desirable attribute for a rental property.
2. Unfurnished – 12%
The second most desirable attribute was an unfurnished property. The study showed that renters aged 55+ (22%) are five times more likely to consider a property being unfurnished as a crucial factor than people aged between 18 and 34 (4%.)
3. Garden – 11%
Having a garden comes third, with 11% of those quizzed seeing outdoor space as the most important attribute to them. Interestingly, parents (15%) are twice as likely to put a priority on a garden than those without children (7%).
4. Off-street parking – 9%
Off-street parking was seen as the fourth most desirable attribute.
5. Quality of décor – 7%
The quality of décor was last in the list of the top five, with 7% of people seeing it as their most important attribute.
The research by Landbay, also provided the attributes of least importance to private renters, with the bottom five being, a dryer, king-sized bed, balcony, dishwasher and new build.
Deborah Mudway, Director, Landbay comments: “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.”