What exactly do renters want?
What do renters want?
Here’s something interesting. Global law firm CMS has just published wide-ranging research into renting around the world. Urban being: the future of city living is a major piece of work and one of the most interesting aspects is the section on What renters want. The researchers look in detail at how consumer preferences differ between generations and from the views of rental property providers.
CMS says "As the popularity of the residential sector grows and more players enter it, one of the key means to differentiate will be through a serviced offer, so getting the right blend of amenities is key. So there are decisions to be made about what is actually going to make a difference in terms of customer retention". This report aims to provide some pointers. According to the researchers, the property sector has got four of renters’ top five preferences right. These are: proximity to transport links and place of work, outdoor space and safety and security.
However, a spacious living room area is the third most important feature of a rented home to 54% of consumers but only 26% of property professionals think this would be important. And larger kitchens also come out high on the list. Other factors where the industry and its customers are markedly out of sync include permission to keep pets (10% to 43%) and car parking (46% to 19%). Views also differ on whether a spacious main bedroom is required (49% to 14%). Property providers could learn a lot from this report. And it makes interesting reading for all of us living or working in the sector. To download a copy, click here.
Planetrent Properties
Under Offer: This term applies to a property where the landlord is considering an offer but remains on the market. It implies that further offers may still be considered until the landlord formally accepts or declines the current offer.
Let Agreed: This term indicates that a landlord has provisionally agreed to enter into a rental agreement with a prospective tenant, pending additional checks and referencing. It doesn't require the prospective tenant to have paid a holding deposit.
Let: This term signifies an established binding rental agreement between the landlord and tenant.
For both lettings and sales, the guidance addresses additional terms:
New On The Market: This term is used for a property not advertised since its last sale or rental. It should only be used for a brief period.
New Instruction: It applies to a property assigned to an agent for marketing recently, even if it was previously listed with another agent without being sold or rented.
New and Exclusive: This term refers to a property that is either new on the market or a new instruction, exclusively available through a specific agent or portal.
New Method of Sale/Let: This term is used when a property is being marketed for sale or rent using an alternative approach to the original advertisement, such as transitioning to an auction or sealed bid.
Reduced: This term indicates that a property's price has recently been reduced. The reduction should be genuine and comply with the Chartered Trading Standards Institute's guidelines on pricing practices.