The vast majority of tenants would pay more if rental properties better suited their needs, a prominent lettings agency claims.
Manchester-based Ascend Properties has commissioned a study which apparently shows that 81 per cent of tenants don’t think rental market stock is up to scratch.
When asked why, 24 per cent stated they didn’t provide enough outdoor or garden space, with a further 20 per cent stating they were too small inside.
A lack of parking was an issue for 19 per cent, while privacy due to having to share and a lack of natural light also ranked high – a complaint from 10 per cent.
When it comes to the deciding factor for choosing a rental property, quality of life still comes second to the price; location, room sizes and the availability of outside space also ranked high.
“Many renters feel that traditional rental stock simply doesn’t meet their needs and with more of us renting for longer, they want a property that is better suited to the modern-day world” says Ascend managing director Ged McPartlin.
He continues: “This has been the driving force behind the Build To Rent sector and the provision of properties that residents want to live in, rather than make do with. The combination of privacy, community, modern-day living standards, amenities and space are the foundations of all build-to-rent developments and our research shows residents are also happy to pay more for a place they love to live within.”
This post has originally been featured in Letting Agent Today.