Features Tenants Are Willing to Pay More Rent For
Landlords and letting agents would be forgiven for thinking tenants want the best house for the cheapest rent - but they are willing to pay more for the right property.
Research has highlighted the top nine features private renters will pay more for. Keeping fit grabs the top place, with half of the tenants offering to pay £16 a month more if they have access to a gym.
Cleaning up in second place are laundry facilities, with 43% of tenants willing to pay an extra £12 a month to landlords who can supply them.
Closely following in third is sharing an outdoor space or garden, with 42% valuing a breath of fresh air at £14 a month. The other top features tenants will pay a premium for include:
- Roof terrace (36% worth an extra £14 a month)
- Vegetable allotment (35%, +£11)
- High-speed internet (31%, +£19)
- The ability to have pets to stay (32%, £24)
- Guaranteed parking space (29%, +£20)
- Allocated storage space for bikes (6%, +£10)
Naomi Aharony, managing director of Faraway Furniture, the firm compiling the data, said:
“To get on or climb the property ladder is certainly more difficult than ever before. With sky-high prices being the biggest obstacle to homeownership, many have had no option but to rent instead.
“As people increasingly warm to the prospect of treating a rental property as a long-term living solution, they also develop a strong desire to make any rental home or flat they consider moving into as homely as possible.
“To achieve this, a readiness among renters to shell out a premium for a range of features and facilities. Conclusively, this research provides a real insight into the features and facilities that tenants are prioritising in their renting criteria.”
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