Tenant Insight - 2017/18
Date of Article
Oct 16 2017
Written by
Lisa Simon
Sector
Residential

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Lisa Simon
MARLA
Partner - Head of Residential Division
0207 518 3234 email me about Lisa
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Lisa Simon heads up our Residential Division, which includes sales, new homes, lettings and property management across our National network. She joined Carter Jonas in 2011. Her twenty years plus experience has been largely in London and the Home Counties working with Landlords and Tenants. Lisa oversees the day to day running of our residential branches and acts as a key contact for some of our portfolio clients. She also runs our corporate services department liaising and promoting our properties to companies and their relocation agents. Lisa resides in West London with her husband and two daughters.

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As the private rental market has become an increasingly popular, proportionally larger and consequently essential component of the wider housing market, it is vital that we find out what is driving tenant choices and their decision making processes. To address this, Carter Jonas again polled our large database of tenants to investigate their thoughts, opinions and ideas on various aspects of the rental market and its processes. After collecting nearly 400 responses we collated the results and we have tried to present the findings in our latest Tenant Survey report.

This report provides some insight into what it is that prospective tenants want and need from a rental property and how they can be attracted and retained. The future of the private rented sector is one of growth, but understanding what motivates the requirements of tenants and how they would like to see the nature of rental properties change in the future, is vital.

Some key themes drawn out of the responses include:-

•    Young people dominate the city rental market;
•    Responding quickly to tenant issues remains the most important service aspect for renters;
•    Newly refurbished kitchens and bathrooms can give rise to good returns for landlords;
•    Affordability, security, flexibility of tenure and assurance about the landlord are important elements in making the future of renting more attractive to tenants.

Over 4 million households in the UK are now privately renting. It is a sector which is expected to continue to grow even more so over the coming decade. Understanding who these renters are, what they want from the sector, and how it can be made better should be actively investigated and encouraged.