how should we prepare for a generation of “reluctant renters”?
TRANSCRIPT
How should we prepare for a generation of “Reluctant Renters”?
Context: Age – Sample = 600 tenants
20s 42%
30s 32%
40s 14%
50+ 12%
0 5 10 15 20 25 30 35 40 45
50+
40s
30s
20s
Series1
Are you a reluctant renter?
Yes = 40%NO = 60%
For this 40%, “Why are you reluctantly renting?”
2/3 are saving for deposit / battling with mortgage
1/3 can buy
“Frustrated buyers”
What do you look for in a rental property? (5 = important)
0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5
Near aparticular
school
Near goodnightlife
Garden size
Lowest rentpossible
Stylish interior
Close to work
Niceneighbourhood
Clean andcomfortable
interior
Nea
r a
part
icul
arsc
hool
Nea
rgo
odni
ghtli
feG
arde
nsi
ze
Low
est
rent
poss
ible
Sty
lish
inte
rior
Clo
seto
wor
kN
ice
neig
hbou
rhoo
d
Cle
an a
ndco
mfo
rtab
lein
terio
r
Series1
What do you look for in a rental property? (5 = important)
0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5
Near aparticular
school
Near goodnightlife
Garden size
Lowest rentpossible
Stylish interior
Close to work
Niceneighbourhood
Clean andcomfortable
interior
Nea
r a
part
icul
arsc
hool
Nea
rgo
odni
ghtli
feG
arde
nsi
ze
Low
est
rent
poss
ible
Sty
lish
inte
rior
Clo
seto
wor
kN
ice
neig
hbou
rhoo
d
Cle
an a
ndco
mfo
rtab
lein
terio
r
Series1
What do you look for in a rental property? (5 = important)
0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5
Near aparticular
school
Near goodnightlife
Garden size
Lowest rentpossible
Stylish interior
Close to work
Niceneighbourhood
Clean andcomfortable
interior
Nea
r a
part
icul
arsc
hool
Nea
rgo
odni
ghtli
feG
arde
nsi
ze
Low
est
rent
poss
ible
Sty
lish
inte
rior
Clo
seto
wor
kN
ice
neig
hbou
rhoo
d
Cle
an a
ndco
mfo
rtab
lein
terio
r
Series1
What do you look for in a rental property? (5 = important)
0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5
Near aparticular
school
Near goodnightlife
Garden size
Lowest rentpossible
Stylish interior
Close to work
Niceneighbourhood
Clean andcomfortable
interior
Nea
r a
part
icul
arsc
hool
Nea
rgo
odni
ghtli
feG
arde
nsi
ze
Low
est
rent
poss
ible
Sty
lish
inte
rior
Clo
seto
wor
kN
ice
neig
hbou
rhoo
d
Cle
an a
ndco
mfo
rtab
lein
terio
r
Series1
What do you look for in a rental property? (5 = important)
0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5
Near aparticular
school
Near goodnightlife
Garden size
Lowest rentpossible
Stylish interior
Close to work
Niceneighbourhood
Clean andcomfortable
interior
Nea
r a
part
icul
arsc
hool
Nea
rgo
odni
ghtli
feG
arde
nsi
ze
Low
est
rent
poss
ible
Sty
lish
inte
rior
Clo
seto
wor
kN
ice
neig
hbou
rhoo
d
Cle
an a
ndco
mfo
rtab
lein
terio
r
Series1
What do you look for in a rental property? (5 = important)
0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5
Near aparticular
school
Near goodnightlife
Garden size
Lowest rentpossible
Stylish interior
Close to work
Niceneighbourhood
Clean andcomfortable
interior
Nea
r a
part
icul
arsc
hool
Nea
rgo
odni
ghtli
feG
arde
nsi
ze
Low
est
rent
poss
ible
Sty
lish
inte
rior
Clo
seto
wor
kN
ice
neig
hbou
rhoo
d
Cle
an a
ndco
mfo
rtab
lein
terio
r
Series1
Remember: 60% of survey under 35
What would help keep you in the rental sector? (5 = important)
0 0.5 1 1.5 2 2.5 3 3.5 4 4.5
Longer tenancies
Option to 'Rent toBuy'
Being able topersonalise my home
Swift repairs andmaintenance
The LL investing tokeep the property in
good order
Series2
Series1
What would help keep you in the rental sector? (5 = important)
0 0.5 1 1.5 2 2.5 3 3.5 4 4.5
Longer tenancies
Option to 'Rent toBuy'
Being able topersonalise my home
Swift repairs andmaintenance
The LL investing tokeep the property in
good order
Series2
Series1
What would help keep you in the rental sector? (5 = important)
0 0.5 1 1.5 2 2.5 3 3.5 4 4.5
Longer tenancies
Option to 'Rent toBuy'
Being able topersonalise my home
Swift repairs andmaintenance
The LL investing tokeep the property in
good order
Series2
Series1
What would help keep you in the rental sector? (5 = important)
0 0.5 1 1.5 2 2.5 3 3.5 4 4.5
Longer tenancies
Option to 'Rent toBuy'
Being able topersonalise my home
Swift repairs andmaintenance
The LL investing tokeep the property in
good order
Series2
Series1
What would help keep you in the rental sector? (5 = important)
0 0.5 1 1.5 2 2.5 3 3.5 4 4.5
Longer tenancies
Option to 'Rent toBuy'
Being able topersonalise my home
Swift repairs andmaintenance
The LL investing tokeep the property in
good order
Series2
Series1
Future tenants – key points
1. Large cohort of Under 35s
2. Quality of interior more important than “the lowest rent”
3. Transport / area more important than nightlife / garden
4. Neglecting your property will lead to unhappy tenants – “a property attracts the tenant it deserves”
5. Longer tenancies are not a big priority
6. Wanting to personalise your home is understandable but must be handled carefully
7. Where is suits the owner, Rent To Buy can be useful