Tenant demands are always evolving but since the pandemic it seems renters want significantly more from their properties. From working from home, to pet friendly properties, here’s our guide to what tenants are looking for in a rental property in 2022?
Open plan living
With more new builds making an appearance, many of the floorplans have one thing in common and that’s open plan living. This may be a spacious kitchen with a feature island or a large kitchen/diner which opens out onto a lounge space. Open plan living is becoming the new modern way of living! It creates more space in the property and is a much more sociable for entertaining, or if you’re living with a friend or partner you can be in the same space whilst one of you is cooking and the other is working etc. This is a factor for Landlords to keep in mind because we are finding many younger tenants will desire open plan living. It may not be a must for some, especially the older generation, but keep it in mind.
Pet friendly homes
Since the pandemic, pets have become even more popular amongst tenants and for many a pet friendly home is a non-negotiable requirement. For those who are living on their own, having a pet takes away that feeling of being lonely, as many say your pet becomes your best friend. However, in the past owning a pet has never been a practical option when looking to rent. While research has shown that just 7% of landlords advertise their property as pet-friendly, the number of households with a pet has reached an all-time high since the pandemic. We recommend accepting tenants with pets where possible because that will increase your chance of finding a tenant. Our lettings team can advise further on this.
Flexible working space- WFH
With many national lockdowns, working from home has now become the ‘norm’ with many companies now offering flexible working. It seems that remote working is here to stay for a lot of businesses. As a result of this, tenants are now looking for rental properties with more space to enjoy a healthier work life balance. Some tenants are also looking for extra rooms for home offices, to make the new working from home lifestyle some-what separate to their living space. With this in mind, some might be willing to spend a little more monthly to cater for their modern working needs.
I don’t know about you but who wants to work, live & relax in one space? Not me and it’s not healthy to either! So make sure you steer away from studio apartments to get the best tenant for your property.
Another key feature tenants are looking for in a rental property this year is outside space. The lockdowns were particularly hard for those with no access to outside space which has prompted many to make it a requirement in their search. The number of searches for properties with outside space up 204%! This means rental properties with outside space are achieving very high prices after just a few days on the market, great news for Landlords!
With many businesses re-opening their office/working space this year, many employees are getting back into their work commute, even if it’s just a couple of days a week. With this in mind, many tenants are now looking for a property close to train stations, motorway links and bus stations again. Our patch is particularly popular with commuters due to the excellent transport options so make sure you bear this in mind.
When it comes down to it, tenants are what make your rental property a success, so knowing what tenants are looking for this year is crucial for Landlords. Make sure you bear in mind the above if you are looking to buy a rental investment and if you are thinking about letting your property out, don’t hesitate to call our lettings team on 01923 726100 or click here to get the best price for your property.