Over the generations, the amount of people being able to get onto the property ladder has decreased due to inflation of housing prices and living costs, making renting the only realistic option for many to live on their own. In their research, GoCompare found 59% of current tenants would like to buy a property but cannot afford to.
Leading landlord insurers, GoCompare have researched what the renting population of the UK are looking for in a rental property and what landlords actually offer in their advertisements. The interactive tool compares survey results which have been broken down nationally and by age group - allowing for greater insight into the world of renting. Survey questions included thoughts around the importance of quality of the area, number of bedrooms, and additional amenities such as cleaning or concierge services.
The results were compared against rental ads on RightMove which were crawled for common words and phrases to show what landlords are actually advertising.
- 40% of all 18-24 year old UK renters believed that the number of bedrooms was very important when looking for a property.
- 30% of 18-24 year old UK renters wanted their properties to be unfurnished, although only 14% of landlords advertise this, and 51% of advertisements have no furniture description at all.
- 48% thought that being close to work or university was somewhat important, with 25% of people believing that is was very important and 11% believed that this wasn't important at all. Over 58% of landlords advertise whether their property is close to a university or work locations to attract more potential renters.
- Just 3% of landlords mention whether a cleaning service is available, but 21% of the 18-24 year olds would like a weekly cleaning service available in the property, with renters in Leeds wanting cleaning services the most at 30%.
- Only 13% of the UK would like to live in a property with a concierge or serviced accommodation, Gloucester had the highest amount of renters who wanted this service with 29%.
Whilst the 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 the majority. GoCompare’s latest tool provides insight into what tenants are looking for and how landlords are missing the mark when advertising their properties.
You can view more of what tenants want and what landlords are advertising here.