High rental costs mean that young renters are more than four times as likely to prioritise finding a cheap rental home than one with access to nightlife, shops and restaurants, according to a survey of over 2,000 tenants across the UK.
Affordability was revealed as the most important factor for renters of all ages in the survey conducted by Intus Lettings, which paints a clear picture for landlords of which characteristics could make a property stand out to would-be tenants.
Only eight per cent of renters prioritised nearby amenities, bars and restaurants or public transport links as a driving force behind their decision on a tenancy, compared to over 40 per cent naming low costs as the most important factor.
In terms of individual features of a home, the most frequent characteristic which renters look for is outdoor space, as nearly half (46 per cent) named a garden, terrace or balcony as the feature they’d desire most in a property.
Meanwhile over 40 per cent of renters would be put off by a property without a parking space, while almost a quarter (24 per cent) were deterred by dated interiors.
Where renters look to find a home varies widely by age group, as more than a third (34 per cent) of 18-24-year olds strive to live in city centre apartments, whereas over-35s named a house in a smaller town as their ideal location.
Hope McKendrick, Lettings Manager at Intus Lettings said: “Our figures seem to suggest that renters first and foremost seek practicality over certain features which have traditionally been seen as desirable – especially to younger tenants – such as nearby shops and restaurants or a vibrant nightlife.
“With high rental costs across the UK, many young renters may be forced to prioritise a property which works around their budget and daily routine, as tenants flock to homes which provide ample parking or easy access to city centre jobs or studies.
Hope added: “We’re seeing a clear trend towards a generation of practical renters – those looking for a convenient, modern-feeling home rather than exciting but potentially costly surroundings.”
