{"id":6035681,"date":"2021-09-03T10:41:23","date_gmt":"2021-09-03T09:41:23","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=6035681"},"modified":"2021-09-03T10:41:23","modified_gmt":"2021-09-03T09:41:23","slug":"what-are-the-latest-rental-trends-as-tenants-priorities-change","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-au\/news\/what-are-the-latest-rental-trends-as-tenants-priorities-change\/","title":{"rendered":"What are the latest rental trends as tenants\u2019 priorities change?"},"content":{"rendered":"

Tenant demand is at high levels, but new rental trends are being revealed. Will these changes lead to long-term shifts in the private rented sector?<\/strong><\/p>\n

Following the release of COVID-19 restrictions, tenant demand has been surging across the UK. At the same time, changing rental trends are shaping the private rented sector<\/a>. Properties offering what modern tenants<\/a> are looking for are likely to be in extremely high demand.<\/p>\n

Many prospective tenants are now looking for certain features in rental properties. A few tenant priorities have changed in the past 18 months. Recent data from Rightmove<\/a> reveals some of the top priorities for tenants. This was measured by prospective tenants enquiring about properties through the portal.<\/p>\n

Pet friendly<\/h4>\n

Compared to the summer of 2020, demand for pet-friendly<\/a> rental properties has grown by 120%. Overall, total tenant demand grew by 13% in that time period. This highlights the rise in pet ownership throughout the periods of lockdown.<\/p>\n

According to the Pet Food Manufacturers Association, more than three million households have acquired a pet since the beginning of COVID-19. Young people are the main driver behind this with over half of new pet owners between 16 to 34 years old.<\/p>\n

Tim Bannister, director of property data at Rightmove, comments:\u00a0\u201cThe rise in pet ownership during the lockdown periods has been well documented, and we\u2019re seeing this translate to the rental market.<\/p>\n

“Becoming a pet owner is a long-term commitment, so what\u2019s really interesting to consider is the impact this could have on the rental market in the future, and it\u2019s a signal to landlords that if they were to consider allowing a well-behaved pet then it may open them up to a bigger pool of potential tenants.\u201d<\/p><\/blockquote>\n

Outdoor space<\/h4>\n

Rental properties with a balcony have seen the second largest increase in demand. This is up by 70% on last year. Additionally, homes with a garden are seeing the fourth most significant rise with demand up by 39%.<\/p>\n

Amid the race for space<\/a>, this is part of a shift towards tenants looking for more space inside and out. For many, access to a garden, balcony or outdoor space became more important during and after the successive lockdowns<\/a>.<\/p>\n

Other features<\/h4>\n

The need for parking has increased by 48%. This may be linked to a rise in tenants moving to suburban areas and commuter towns<\/a>, as finding properties with parking in city centres can be challenging. And rounding out the top five, demand for properties with all of the bills included is up by 38%. This can help tenants budget more easily and may remain popular moving forward.<\/p>\n

Additionally, other recent reports named energy efficiency<\/a>, high speed internet<\/a> and space for an office as important priorities for many tenants. For landlords and investors looking to make their property investment more future-proofed, it\u2019s beneficial to keep up with the latest rental trends<\/a>.<\/p>\n

Choosing the right property and knowing what tenants prioritise can help you earn more from your property. Browse a selection of our investment opportunities<\/a>, and sign up<\/a> for free to get full access.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Tenant demand is at high levels, but new rental trends are being revealed. Will these changes lead to long-term shifts in the private rented sector? Following the release of COVID-19 restrictions, tenant demand has been surging across the UK. At the same time, changing rental trends are shaping the private rented sector. Properties offering what… Read more »<\/a><\/p>\n","protected":false},"author":1982,"featured_media":19872,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[2,6],"tags":[15,170,10],"class_list":["post-6035681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buy-to-let-landlords","category-uk-housing-market","tag-landlords","tag-rental-property","tag-tenants"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/6035681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/users\/1982"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/comments?post=6035681"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/6035681\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media\/19872"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media?parent=6035681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/categories?post=6035681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/tags?post=6035681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}