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Study reveals affordability is the most important factor for private tenants

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A new study has shown that affordability is still the key driver for renters of all ages when looking for private rented accommodation.

The UK Tenant Survey asked over 2,000 private renters across the UK what characteristics they looked for in a property.

The research found that:

  • nearly two thirds cited affordability as their main concern when compared to location or space in the property;
  • young renters are more than four times as likely to prioritise finding a cheap rental home than one with access to nightlife, shops and restaurants;
  • 8% of renters prioritised nearby amenities, bars and restaurants or public transport links as a deciding factor as to whether to rent a particular property.

In terms of individual features of a home:

  • 46% said a garden, terrace or balcony is the feature they would desire most in a property;
  • more than 40% of renters would be put off by a property without a parking space;
  • nearly a quarter of respondents - 24% - were deterred by dated interiors.

A spokesperson from Intus Lettings - who carried out the survey - commented: “With high rental costs across the UK, many young renters may be forced to prioritise a property which works around their budget and daily routine, as tenants flock to homes which provide ample parking or easy access to city centre jobs or studies.

“We’re seeing a clear trend towards a generation of practical renters – those looking for a convenient, modern-feeling home rather than exciting but potentially costly surroundings.”