How have tenant demands changed since lockdown
According to The Property Academy Tenant Survey 2020, priorities have changed for quarter of tenants following the pandemic.
The Survey, based on 14,000 tenants, found that over two thirds of tenants said their priorities are now much more important than they were pre-lockdown.
Three of the most popular factors tenants now want when renting a home are:
AFFORDABILITY
With lockdown causing people unable to work, 68% of tenants want properties that are affordable. People are willing to pay a higher deposit or higher rent if pets were allowed. This is something for landlord to consider, by allowing pets you can open up your property to a range of audiences.
GARDEN
Being locked down in your home, it is no surprise that 67% of people are now wanting a garden to do their 20 minutes exercise.
GREAT BROADBAND SPEED
With the government encouraging working from home, it is also no surprise that 63% of tenants said broadband speed was more important and 61% said space to work from home was more important.
Landlords should consider renters priorities, for example; assisting access to fast broadband, providing office furniture, and assessing rental values could help keep tenants happy.
With tenant demand at an exceptionally high level, property remains a good investment!
If you fancy a chat with one of the team about making your first investment or adding to your portfolio simply call 01970 636 010, or alternatively you can get us on email lettings@alexanders-online.co.uk.
Take care,
The Alexanders Team.