What Do London Tenants Want In Rental Property?
31st August 2020 posted in Landlords Tenants
No matter what move you wish to make next in the rental market, we believe it is best to make an informed decision. It is unlikely you will feel 100% confident about a major decision, but we aim to help tenants and landlords in and around West Hampstead to feel happy about their decision.
We work closely with local landlords and tenants, and we stay in touch with research locally, in London, and nationally.
What are tenants looking for across London?
According to research undertaken by Spotahome, a parking space or a garage is the most important features tenants are looking for in London.
The list of desirable features is as follows:
· Rental property with a garage or parking space had a demand score of 26%
· A garden in the rental property had a demand score of 25%
· Rental property with a terrace or balcony had a demand score of 23%
· Nearby amenities such as gyms, supermarkets, shops and swimming pools also had a demand score of 23%
· Security features or the property having a porter also achieved a demand score of 23%
· A furnished flat had a demand score of 20%
· A pet-friendly home had a demand score of 11%
Demand by London borough
The most desirable features by London borough can be viewed below:
· A balcony was the leading feature in the following boroughs, Westminster, Bexley, Havering, Tower Hamlets, Redbridge, Bromley and the City of London.
· A parking space was the most in-demand feature in the following boroughs: Kingston, Barking and Dagenham, Greenwich, Hillingdon, Southwark, Brent and Enfield.
· A rental property with a garden was the most desirable feature in the following boroughs: Fulham, Richmond and Hammersmith, Harrow, Hackney, Lewisham, Barnet.
· Security was the most pressing concern in Merton, Waltham Forest, Haringey, Ealing and Croydon while a pet-friendly rental property was most important in Islington, Camden and Hounslow.
Is a pet-friendly service desirable in West Hampstead?
With West Hampstead located in the London Borough of Camden, it is interesting to note that a pet-friendly rental service is the most desirable feature in the local area. If you are a local landlord who is willing to offer a pet-friendly service, you should see heightened demand for the rental property.
If you plan on offering this style of rental service, it is best to properly plan the service, and we are here to talk about your needs in the West Hampstead rental market.
Nadia Butt is the UK and Ireland Country Manager of Spotahome, and she said; “Recent events have certainly seen a spike in demand for outdoor space to help ease the monotony of more time spent at home. However, whilst gardens and balconies remain sought after features, a parking space within the capital continues to be at the top of the tenant wish list.”
Nadia continued by saying; “When planning a move to London or even within London for that matter, it’s important to be realistic about what you will be able to secure in your desired location. A search for green space in the capital’s inner boroughs isn’t going to be as fruitful as rental pockets across London’s outer boroughs. So you may need to compromise with a balcony or terrace if inner London is where you want to be.”