Generation rent tell us what they want, what they really, really want..
House price inflation and living costs are on the up, and the only realistic option for many wishing to live on their own is to rent. Over the generations, it has become increasingly more difficult to get onto the property ladder.
Recent research has revealed as many as 59% of current tenants would like to buy a property but simply cannot afford to. Alongside this, the research also looked into what the renting population look for in a rental property and what landlords actually offer in their advertisements. Survey questions included thoughts around the area, number of bedrooms and additional amenities such as cleaning services. The results were then compared against Rightmove rental ads which were scanned for common words and phrases to show what landlords are actually advertising.
The findings revealed that 40% of all 18-24-year-old renters prioritise the number of bedrooms in a property and 30% of 18-24 year old want their property to be unfurnished. Only 14% of landlords advertise this and over 50% of advertisements had no furniture description at all.
Over 20% of 18-24-year-olds said they would like a cleaning service, with only 3% of landlords mentioning if it is available. Whilst prices of houses have begun to decrease for the first time in over a decade, house prices still remain relatively high, meaning renting is the only viable option for many.
If you’re a landlord and would like advice on how to get the most out of your rental property in Bradford, get in touch with the Locate team.