Updated data* from landlord insurance specialists Cover4LetProperty reveals that for 77% of renters, the cost remains the most important deciding factor when choosing a rental property.
The eleventh in the series of surveys (carried out bi-annually from March 2013 to date) revisited the factors that influence whether someone will rent a property, and found the following were the top three:
- 77% of respondents say cost is the determining factor when choosing a rental property (down 11% from 6 months ago);
- 68% also said that the location (a decrease of 11% over the last 6 months);
- having a garden is important to 48% of renters (up 7%).
Interestingly, ease of parking - which 6 months ago was the third most important factor where choosing to rent - dropped by 23% down to 24%, suggesting that it is less important than whether pets are allowed (up by 4% to 32%).
Commenting on the study, Richard Burgess, Director at Cover4LetProperty says: “In February, Labour said it wanted to implement a default right for tenants to keep a pet in their rental properties. It appears that the party has found this is a popular choice for tenants and would be seen as a vote winner.
“Regardless, landlords may want to consider their own policy on pets to see if it could help rent their properties now - or they are forced to change their policy by potential new Government legislation”.
*Independent study carried out for Cover4LetProperty by Usurv 21.03.18
With roots going back to 1946, our clients can benefit from many years’ experience in the landlord insurance marketplace. We are independent intermediaries and act on behalf of our clients in arranging their buy to let and unoccupied property insurances. Our service includes advising clients on their insurance needs, arranging insurance cover with insurers to meet those requirements and help with any ongoing changes that have to be made to their landlords insurance policies.
Contact: Stella Hulott, Speedie PR, Tel: 01843 831088, email: firstname.lastname@example.org