Top 3 Most Desirable Property Attributes
Ever wondered what the most desirable attributes are in a property for renters? Having the right ingredients makes a huge difference to renter decisions (and landlord profits), so we researched what this could mean.
Of course, some renters are entirely driven by price, however there’s a lot more depth in terms of what renters are looking for. There’s choice in the market and, with the rise of property portals like Zoopla and Rightmove, it’s easier than ever to search for the property features that are important to them.
We decided to commission wide ranging research to delve into the psyche of private tenants, with the aim of arming landlords with the information they need to stay ahead of the curve. From the 2,000 responses we received, there have been some interesting results.
1) Pet-friendly properties
It’s official! Our nation of animal lovers sees this being the number one desirable attribute.
We know people love cats and dogs; employers are criticised for not handling a pet bereavement with appropriate sensitivity, wander into nearly any trendy workplace and you’ll see a variety of different office pets.
Renters are clearly not that different. Our study found that a pet-friendly policy is important, with one-in-seven would-be tenants ranking it as their most important requirement. That swells to more than one-in-four renters in the North East. Interestingly, this shrinks to just 3% of renters in London.
2) Unfurnished homes
The second most desirable attribute for tenants is an unfurnished property – with 12% rating it as the top attribute.
However, those over the age of 55 are twice as likely (22%) to prioritise a property that’s unfurnished, compared to the general population. What may work for one renter may not work for another, so why not let tenants bring their own couch, bed and dining room table and save yourself money, time, and energy?
It’s worth noting that in many cases those who prefer unfurnished properties crave long-term stability and request longer tenancies. However, for a landlord looking to attract students or young professionals, a furnished property might be a better option.
3) Access to a garden
Access to a garden is also in the top three desirable traits for tenants, with 11% of renters rate outdoor space as their most important attribute. Moreover, parents (15%) are more than twice as likely to prioritise a garden as those who do not have children (7%).
Conversely, a new king-sized bed, dishwashers, a balcony and a dryer came to the bottom of the list.
Knowing what renters want can make for a happier, more prosperous relationship which benefits renters and landlords alike. The good news is that it seems making small changes, like implementing a pet-friendly policy, can make a big difference.
We’ll share more results from the research in the coming weeks.