What Do UK Tenants Really Look For in a Rental Property?
Some investors might think that the most challenging part of purchasing a rental property is the process itself, but further down the line, many landlords come to wonder, ‘what do tenants actually look for in a rental property?’.
This question is often one of the hardest to answer. What you think might be popular amongst tenants and what they actually want in a rental property can often be two completely different things, especially in 2022.
Rental priorities are always changing, but after the pandemic and numerous national lockdowns, UK tenants are demanding more from rental properties than ever before – many of which are completely new for the market. So, what do tenants really look for in a rental property?
Working From Home Spaces
This is one of the more obvious demands for 2022, but is probably the most important priority for a lot of tenants. Remote and home working has skyrocketed since the pandemic, and if there’s one thing that renting allows, it’s flexibility. For a lot of businesses, remote working is a new way of working, and for those in rented property, there is the added freedom of being able to upsize for designated working spaces or completely relocate to somewhere more suitable.
When you’re trying to achieve a healthier work/life balance, having a designated space for work is crucial. While these tenants will be working from the comfort of their own home, a specific room or area for a home office will make separating home from work much easier – no one wants to be working from their kitchen table.
Outdoor Areas
If lockdown taught us anything, it’s the value of a garden. With the furlough system, one of the UKs hottest summers on record and a national lockdown, many Brits found themselves taking their annual holiday just a stone’s throw from their back door. For those living in apartments or houses without adequate outdoor space, however, it was quite a different experience.
As a result, more UK tenants have reconsidered the value of outdoor spaces, which has since seen searches for properties with terraces increase by 204%. While lockdowns seem to be behind us, people are still spending more time at home than before the pandemic, especially those who have the option of flexible working. This means that for investors, it might be worth considering properties with balconies or communal spaces.
Related: Top 10 Features of a Profitable Rental Property
Pet-Friendly Homes
The UK has always been a nation of pet lovers, but since the pandemic, the number of households with a pet has reached new heights. For a lot of UK tenants, however, having a furry friend has never been a practical option, with research suggesting that just 7% of landlords advertise their property as pet-friendly.
But with more tenants becoming pet parents during lockdown, pet-friendly homes are now a significant, non-negotiable demand for these UK tenants. Whether it’s a dog, cat or smaller companion, pet-friendly rental properties are expected to remain a key priority for tenants in 2022 and beyond.
Transport Links
Although a lot of employees now have more opportunities to work from home, office working is slowly but surely making a comeback. As a way of maintaining company culture and team working, more businesses – especially those in city centres – are returning to the office as the UK continues to ‘live with Covid’.
With office working having been an uncertain topic for the past two years, renters have moved further afield. As a result, transport links are now more important than ever before. With the opportunity to have the best of both worlds – remote living within commutable distance of a city centre – UK tenants are prioritising transport links in 2022.
Related: Top Reasons For Investing in Property
Open-Plan Living
Modern homes are becoming even more popular amongst UK tenants, and what do these all have in common? Open-plan living. Whether it’s in the latest edition of House Beautiful or your friend’s newly-renovated house, you’ll usually find an open-plan kitchen/diner. Not only does opening a space up make the entire property feel bigger, it’s also a lot more sociable.
The kitchen is the focal point of any home, where residents host friends or cook for family. As tenants continue searching for modern rental properties, having a spacious and open-plan kitchen has become increasingly important. This has made brands such as Poggenpohl incredibly popular with tenants – a practical product with an incredibly high-end design and a guaranteed talking point that seamlessly blends style and substance.
This demand is not only a growing priority amongst single tenants and couples, but it is also popular in student lets and HMOs, providing more communal areas and extra space for tenants.
At one point or another, landlords will need to ask themselves, ‘what do tenants look for in a rental property?’, and it should probably be questioned sooner rather than later. Without tenants, void periods are a very real possibility, so keeping up to date on what tenants are prioritising is crucial.
This is even more important after the past two years, with UK tenants now having more demands – many of which are completely new for the rental market. For example, properties that are pet-friendly and open-plan will be at the top of tenants’ lists this year, as well as rental properties with exceptional transport links. For investors, this remains a key consideration when letting out their property.
