Upad: Landlords out of touch with tenant wants


July 20, 2017

Landlords are generally out of touch with what their tenants want, according to research from online letting agent Upad.

The research found that whilst tenants are often clear on their needs they struggle to get landlords to take them on-board.

The research also found that gardens, parking, and furnished properties were in demand by tenants, highlighting that there may be an opportunity for landlords to do more to deliver what tenants want.

Some 18% of tenants would pay more for a garden, at an average of £69 per month in extra rent, 15% of tenants said a furnished property was most important to them, and that they’d pay, on average, £163 a month in additional rent for a fully furnished rental.

Upad founder James Davis said: “What tenants have said here is a very clear message that, generally, they’re willing to pay more in return for flexibility from their landlord. It is clear that what tenants want is something completely out of sync with what landlords think tenants want.

“While many landlords diligently stick to no pets rules or don’t feel there’s value in providing even white goods to their tenants, the evidence is there to suggest they could improve their yields by relaxing their stance on this and looking at what else tenants want.

“Though it remains essential for landlords to strike a balance to ensure their business is profitable, this data provides information for all landlords. For experienced landlords who may have upheld the same rules for years, new landlords, or those looking to grow their portfolio in the near future, they may wish to consider how properties with a garden or designated parking can be far more attractive to prospective tenants.”

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