Landlords are in charge of making sure that their property meets all the safety and hygiene standards of the law. This means making sure it’s secure, getting someone like Trusted Roofing to make any roof repairs needed to stop leaks, dealing with any mold or other issues that may occur, and lots more. However, this is the bare minimum and they often provide extra perks to attract tenants and keep them loyal. But what are the most popular perks a tenant is looking for?
A home being pet-friendly is the most desirable attribute in a rental property, according to research by buy-to-let focussed marketplace lender, Landbay. The study delves into the psyche of 2,000 private renters in the UK, offering insight to landlords on the wants and needs of their tenants.
According to Bazaraki research found that nearly one-in-seven (14%) renters in the UK rated ‘pets being allowed in the property’ as their most important requirement. In the East of England, the most desirable is also pets allowed in a home, at 15%. The most pet-friendly region is the North East (27%), and the least is London, with just 3% rating it top of the list. Women are more than twice as likely (18%) as men (8%) to prioritise a pet-friendly property.
The second most popular attribute in the East of England is access to a garden, followed by off-street parking, which both rank differently compared to the UK average. In the UK, a home which is unfurnished comes slightly higher, as a second, with 12% of renters saying this is the most desirable attribute. Perhaps tellingly, renters aged 55 and above (22%) are five times more likely to consider an unfurnished property as crucially important than those aged between 18 and 34 (4%).
A garden was third in the, 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%.)
Having a dryer came bottom of the list of most desirable attributes in the UK with just 1% of renters considering it key to their home. A king-sized bed, a balcony, and a dishwasher also polled just 1%. In the East of England, the bottom three were king sized-beds, a dryer, and a balcony.
Are you considering investing in a rental property? Renting out a property is a great way to boost your income. However, not everyone can afford to buy a rental property outright. With this in mind, you might be interested in doing some research into buy to let mortgages.
Essentially, a buy-to-let mortgage is a mortgage sold specifically to people who buy property as an investment, rather than as a place to live. Most borrowers take out an interest-only mortgage and then only pay the interest on the loan as it accrues every month, generally from the proceeds of the rent being collected. Any capital debt is paid at the end of an agreed term.
Above all, there are some fantastic mortgage options out there for property investors so do not be afraid to shop around to find the best possible solution for your needs.
|Top Five Attributes in the UK||Top Five Attributes in the East of England|
|Pets allowed||14%||Pets allowed||15%|
|Quality of décor||7%||Square footage||7%|