What exactly do renters want?
Mary-Anne Bowring 20/09/2019
2828
What do renters want?
In a recent study by global law firm CMS, a comprehensive report titled Urban Being: The Future of City Living explored what renters truly want. One of the key takeaways from the research is understanding the divergence between generational preferences. As CMS points out, there are notable differences in how various age groups prioritize certain amenities and features in rental properties.
Right blend of amenities
The report further highlights the importance of getting the right blend of amenities to appeal to renters. As the popularity of the residential sector increases, property providers face heightened competition. Offering services that resonate with renters' needs could become a major differentiator in the market, ensuring long-term customer retention
Convenience and accessibility
Another intriguing finding is that proximity to transport links and places of work is consistently ranked as a top priority for renters. This underscores the growing demand for convenience and accessibility in residential locations, with renters increasingly seeking homes that offer easy commuting options.
spacious living rooms
However, when it comes to specific features of the home, the study found a clear gap between what renters desire and what property professionals believe they need. For instance, spacious living rooms are deemed crucial by 54% of renters, but only 26% of property professionals agree on its importance. This disconnect suggests that property providers may need to reassess their designs to meet evolving renter expectations.
Pet policies
Additionally, pet policies emerged as a point of contention. While a significant 43% of renters express the desire to keep pets in their homes, only 10% of property professionals believe this is a priority. This disparity highlights a potential opportunity for property providers to tap into a growing market by being more flexible with pet permissions.
Car parking
Finally, car parking and the size of the main bedroom are also points of misalignment between renter preferences and the views of property professionals. These findings stress the need for property providers to stay attuned to the real wants and needs of renters, potentially guiding future decisions on property design and services.
click here.
Planetrent Properties
info@planetrent.co.uk
0208 0599 550 (for sales)
Under Offer: This term applies to a property where the landlord is considering an offer but remains on the market. It implies that further offers may still be considered until the landlord formally accepts or declines the current offer.
Let Agreed: This term indicates that a landlord has provisionally agreed to enter into a rental agreement with a prospective tenant, pending additional checks and referencing. It doesn't require the prospective tenant to have paid a holding deposit.
Let: This term signifies an established binding rental agreement between the landlord and tenant.
For both lettings and sales, the guidance addresses additional terms:
New On The Market: This term is used for a property not advertised since its last sale or rental. It should only be used for a brief period.
New Instruction: It applies to a property assigned to an agent for marketing recently, even if it was previously listed with another agent without being sold or rented.
New and Exclusive: This term refers to a property that is either new on the market or a new instruction, exclusively available through a specific agent or portal.
New Method of Sale/Let: This term is used when a property is being marketed for sale or rent using an alternative approach to the original advertisement, such as transitioning to an auction or sealed bid.
Reduced: This term indicates that a property's price has recently been reduced. The reduction should be genuine and comply with the Chartered Trading Standards Institute's guidelines on pricing practices.