10 Dec

Research reveals tenants' wants

Research reveals tenants' wants

New research shows that tenants are very clear on their wants when selecting a new home.

A survey conducted by YouGov for Knight Frank revealed that nearly 50 per cent of tenants across the UK are prepared to travel for 15 to 30 minutes to work each day.

However, this increased to be content with travelling up to an hour amongst tenants leaving in the capital city.

A total of 40 per cent of those involved in the research stressed that it was important to have somewhere to store their bike safely, while 33 per cent would be willing to pay more rent if they were allowed to keep a pet in the property.

The survey also showed that many tenants prefer to rent with a contract lasting 12 months – in particular, younger renters were keen not to commit to longer tenancy periods.

A total of 24 per cent of tenants in London were willing to pay up to 50 per cent of their gross annual income in rent - up from 22 per cent of renters last year.

Some tenants admitted they would like to purchase their own home within the next 12 months, but less than half were currently saving for a deposit to buy a property.

However, there are concerns that new regulations on mortgage interest relief for buy-to-let investors could make it harder for tenants to find their perfect home.ADNFCR-1222-ID-801807819-ADNFCR

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