An in-depth YouGov poll, which garnered responses from 5,000 tenants living in the private rented sector, has provided valuable information regarding what they are looking for when choosing a property.
The survey showed that tenants are prepared to shell out as much as 50% of their wages on rent, provided they live in close proximity to their place of work or study â€“ a key priority for more than half of renters.
A third of tenants would be willing to pay more rent in order to keep a pet in their property, to cover the costs of extra refurbishment after they have vacated the property. It was shown that 4% of tenants already pay extra for their pet, rising to 7% for over-55’s.
The survey confirmed the findings of last month’s study by the Deposit Protection Service, showing that the majority of tenants want shorter tenancies, particularly younger tenants. Some 69% of tenants aged 18 to 24 prefer agreements of up to a year, falling to 61% for 25 to 34-year-olds. This proves that flexibility of tenure in the private rented sector is one of its most attractive features to students and young professionals.
Nearly 4 in 10 tenants have lived in five or more rental properties. Most tenants relocate within a mile of their previous property, but a fifth had moved more than 60 miles, further highlighting the demand for the flexibility the PRS provides.
A quarter of tenants live alone, while 34% live as a couple without children. 43% of those aged 18 to 24 share with other adults in a flat share type of arrangement.
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