Pet-friendly homes are what tenants look for most in a let, according to research from Landbay, the buy-to-let focussed marketplace lender.
2,000 private renters in the UK were involved in this study, which offers insight to landlords on what tenants look for.
The research found that 14% of renters rated ‘pets being allowed in the property’ as their most important requirement. Specifically in the North East, this figure rises to 27%. However, only 3% of renters in London selected this response.
Second on this list is an unfurnished home. 12% of renters said that this was the most desirable attribute. Landbay highlights that 22% renters aged 55 and above are five times more likely to consider an unfurnished property as crucially important than those aged between 18 and 34 (4%).
A home with a garden came 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||Bottom Five Attributes|
|Pets allowed ||14%||Dryer||1%|
|Unfurnished ||12%||King sized bed ||1%|
|Off-Street parking ||9%||Dishwasher||1%|
|Quality of décor ||7%||New build ||2%|
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.”