What Makes Brits Pay More for Rent?

What Makes Brits Pay More for Rent?

The house price inflation has outpaced wage growth in many parts of the UK throughout the last ten years; therefore more and more Brits are treating rental properties as a long-term solution to their living requirements. For this reason, it is important for landlords and developers to keep in mind how they can meet the basic expectations and keep the tenants satisfied.

In order to find out what features and facilities tenants would like to be included in their rental property and how much extra they would be willing to pay for them on top of their normal monthly rent, Showerstoyou.co.uk analysed findings from ‘LSL Property Services’, who surveyed over 3,000 tenants.

One of the most requested was the possibility to have pets in the house, with 28% of respondents willing to pay an average of £24 more per month for it. Right after that, high-speed internet was a priority, with 21% of tenants happy to pay an average of £19 extra each month for it.

The communal facility that tenants would prioritise the most is a gym, with 41% glad to pay an average of £20 more every month. Followed closely behind was a laundry facility, where 34% of renters would be content with spending an average of £10 each month to wash and dry their clothes in an allocated room.

A lot of rental properties don’t have any green space, which is something that 32% of tenants would be interested in having at an additional cost of £10 per month on top of the normal rent. At the idea of a recreational or games room, only 27% of renters would be willing to pay extra.

“Property prices have certainly been unattainable for those looking to get on the property ladder over the last few years. Brits therefore have had no option but to rent. As a result, individuals have been applying similar criteria’s to renting as they would when seeking a property to buy. This research shows that there are features and facilities that renters really want and would pay a premium for. Whilst some features/facilities are prioritised over others, they all provide great indications for landlords/developments as to what tenants are expecting from rental properties going forward,” said Martin, Managing Director of Showerstoyou.co.uk.


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