UK residential renters want landlords and property managers to demonstrate their green credentials, according to a recent survey.
Almost three-quarters of participants in a survey of 2,000 people sponsored by MRI Software indicated sustainability was important, with close to half considering it a "deal-breaker" when choosing to rent.
A Rental Housing Trends and Preferences report produced by the company on the basis of the survey's findings also reveals that almost four-fifths of renters want to own a property eventually, onsite amenities have become increasingly important, and that two-thirds would prefer to manage their relationship with their landlord or property manager digitally.
“The rental housing report provides a wide-ranging look into the mindset of UK residential renters with revealing stats that show their expectations, demands and behaviours,” says James Lavery, Vice President of Marketing (EMEA) at MRI Software. “The survey also provides a window on what rental trends are developing in the marketplace.
One of the most noteworthy findings is that all renters – especially younger renters – now demand that landlords and building managers take a green approach to managing the properties they rent out.”
72 per cent of the survey sample also indicated it is important their building is managed in an environmentally friendly way, with 74 per cent saying they wanted their landlord or property manager to have technologies in place that ensure their rental properties are green, energy-efficient spaces.
Younger renters were much more likely to agree that environmental credentials were vital, with 75 per cent of those aged 18 to 24 agreeing, compared to just 67 per cent of those over 65.
The findings reveal that 47 per cent of all respondents see the lack of green building management as a deal-breaker, with 59 per cent of 18 to 24-year-olds also likely to adopt a rigid stance on sustainable management when renting.
The research also shows that an overwhelming proportion (79 per cent) of UK renters want to own their own property eventually, and that 80 per cent prefer to live in houses while they are renting – even though just 63 per cent are doing so at the moment.
The findings demonstrate that, when targeting modern renters, landlords and property managers that offer the desired amenities, communication tools, payment options, and solid green credentials will be better positioned in a competitive market ...
Most UK renters live in cities, suburbs and towns but over a quarter of the respondents indicated they would prefer to be in rural communities.
Rural renters are also the most satisfied with where they live, with 81 per cent indicating they are happy living where they are (which compares to just over half of those renting elsewhere).
The survey also reveals that, as we move further away from the pandemic, some attitudes to renting have changed, as 39 per cent say their expectations are “far greater” in terms of rental amenities such as private parking, access to high-speed broadband, additional storage, onsite security, exercise facilities, and an onsite coffee shop; and nearby facilities such as shopping, nightlife, healthcare services, green spaces and outdoor markets.
Other findings from the survey
Overall, 66% of renters prefer to manage their relationship with their landlord or property manager digitally and in a self-service manner.
Lavery says: “The results suggest that online portals and other digital tools have strong potential to become more popular as new generations move into the rental market and other residents are educated on the benefits.
The findings demonstrate that, when targeting modern renters, landlords and property managers that offer the desired amenities, communication tools, payment options, and solid green credentials will be better positioned in a competitive market to win them over and maintain occupancy over the long term.”
