Priorities have changed for over a quarter of tenants following the pandemic and provoked them to think about how and where they want to live, according to The Property Academy Tenant Survey 2020. Space is becoming a very important aspect, when choosing a property and working from home has become very common.
Landlords should consider renters priorities, for example; assisting access to fast broadband, providing office furniture, and assessing rental values could help keep tenants happy. If you are a considering investing in a new property for your portfolio, you might target larger homes that provide the extra space tenants are asking for.
Affordability and garden
The Survey, based on 14,000 tenants, found that over two thirds of tenants said affordability (68%) and a garden (67%) had become more important than they were pre-lockdown. According to Zoopla, ‘Garden’ was the most popular search term throughout 2020 for both buyers and renters.
Broadband and space to work from home
With the government encouraging working from home, it is no surprise that 63% of tenants said broadband speed was more important and 61% said space to work from home was more important.
During lockdown internet users spent 18% more time on the internet. The importance of broadband speed to homemovers has increased and can be an important factor when choosing the next home. The increased importance of internet speed can be seen in take up figures. In 2019, 74% of home broadband connections were superfast products compared to 66% in 2018, 58% in 2017 and 49% in 2016. Dataloft’s Homemover Survey revealed that for 16% of buyers, broadband speed had become more important than before lockdown.
Vendors should consider improving internet speeds in their homes, often an easy change to make.
Green Homes
Climate change was high up the agenda before Covid-19 – most forecasters predicted climate change as the big theme for the property market in 2020.
Energy efficiency of houses in England has improved over the last decade. The announcement of the Green Home Grant will help cut energy emissions further, which is important to many households. The average SAP rating, used to calculate EPC, is now 63, up from 53 in 2008. A third of dwellings are now in the highest EPC band, A to C.
Green homes are something worth thinking about for landlords too. 86% of tenants said that an environmentally sustainable home is important or nice to have.
We urge you to follow us on social media, in order to stay up to date on a daily basis.
Broadband and space to work from home
With the government encouraging working from home, it is no surprise that 63% of tenants said broadband speed was more important and 61% said space to work from home was more important.
During lockdown internet users spent 18% more time on the internet. The importance of broadband speed to homemovers has increased and can be an important factor when choosing the next home. The increased importance of internet speed can be seen in take up figures. In 2019, 74% of home broadband connections were superfast products compared to 66% in 2018, 58% in 2017 and 49% in 2016. Dataloft’s Homemover Survey revealed that for 16% of buyers, broadband speed had become more important than before lockdown.
Vendors should consider improving internet speeds in their homes, often an easy change to make.
Green Homes
Climate change was high up the agenda before Covid-19 – most forecasters predicted climate change as the big theme for the property market in 2020.
Energy efficiency of houses in England has improved over the last decade. The announcement of the Green Home Grant will help cut energy emissions further, which is important to many households. The average SAP rating, used to calculate EPC, is now 63, up from 53 in 2008. A third of dwellings are now in the highest EPC band, A to C.
Green homes are something worth thinking about for landlords too. 86% of tenants said that an environmentally sustainable home is important or nice to have.
We urge you to follow us on social media, in order to stay up to date on a daily basis.