‘Must-haves’ for renters and landlords revealed

Research from Barclays offers valuable insights for both renters and landlords navigating today’s competitive private rented sector (PRS).

The study reveals the top priorities for each group, providing guidance on what makes a property or tenant more attractive.

For renters, avoiding damp and mould is the absolute deal-breaker, with nearly half (46%) stating it as a non-negotiable.

Close behind is access to a living room (34%) and some form of outdoor space, be it a private garden or balcony (32%).

Rent and mortgage payments are stabilising

The bank’s head of savings and mortgages, Mark Arnold, said: “Our latest spending figures paint an encouraging picture for UK consumers – rent and mortgage payments are stabilising, energy bills are coming down, and confidence is on the up.

“The research also reveals how prospective tenants can stand out in a crowded market by highlighting sought-after attributes such as willingness to take good care of the property and having strong character references.

He added: “Meanwhile, landlords looking to upgrade their properties can choose from a range of desirable improvements, many of which don’t require significant remodelling, such as damp-proofing, installing double-glazing and sourcing faster internet.”

Tenants prioritise double-glazed windows

Energy efficiency for renters also plays a role, with a third of tenants (32%) prioritising double-glazed windows for better insulation and noise reduction.

The top 10 ‘must-haves’ for tenants are:

• No damp/mould present (46%)
• Living room/lounge (34%)
• Private garden and/or outdoor space (32%)
• Double glazing on windows (32%)
• Fast internet/broadband capabilities (24%)
• Pets allowed (23%)
• Off-street parking (21%)
• Large bedrooms (17%)
• Likeability of landlord or property agents (17%)
• Private from neighbours/isn’t overlooked (16%).

Interestingly, the research suggests renters might be overlooking a key strategy since only a quarter (23%) say they’d make the effort to reach out to the landlord directly to stand out from the competition.

This is even though a significant portion of landlords (34%) say a personal touch from a prospective tenant can influence their decision.

Finding reliable and responsible tenants

Landlords prioritise finding reliable and responsible tenants with cleanliness and proof of income as the top requirements – both are cited by 27% of landlords.

Loyalty is also valued, with a third (33%) willing to offer existing tenants a cheaper rent if they take good care of the property.

Flexibility can also be an advantage for tenants – one in four landlords (23%) would consider accepting a slightly lower offer for someone who’s accommodating with the move-in date.

The top 10 ‘must-haves’ for landlords are:

• Cleanliness/hygiene (27%)
• Proof of income (27%)
• Quiet tenants (24%)
• Employed in a permanent job (22%)
• Strong character references (21%)
• Likeability of people (17%)
• Strong employer references (17%)
• Can provide a guarantor for rent (17%)
• Strong landlord references (16%)
• No pets (15%).