What are the top priorities for modern renters in the PRS?

 

A new survey reveals tenants prioritise keeping bills down, especially during the winter months, and living in eco-friendly properties.

As more people become increasingly aware of green issues, having access to renewable energy could soon be a top priority for the majority of rentals. Making your buy-to-let investment more eco-friendly could attract additional renters, especially moving forward.

Tenant Shop revealed renters are becoming more aware of their environmental impact, especially when it comes to energy consumption. Recently, tenants have grown especially concerned about where their energy comes from and if it’s renewable or not.

Eco-friendliness of rentals is key

In a recent article, Property Reporter analysed research from Your Move showing 42% of tenants deem eco-friendliness of a property key when choosing a new rental. This stat increases to 50% in the capital.

Additionally, a survey by CMS revealed environmental measures are among the top priorities for European city dwellers to have in their living environments. Electric vehicle charging points and smart meters were ranked the second and fourth most desirable features.

This focus on green living is only expected to increase as the climate crisis intensifies, opening up avenues for landlords and investors to attract more renters to their properties.

Greener and more energy efficient homes

Across the next 30 years, climate change is expected to have the biggest impact on real estate, according to a recent report by PwC. Nearly half of respondents claimed climate change risks had increased in their property portfolio, and almost three quarters of those surveyed expect the risk to grow across the next five years.

As the Conservatives won the General Election on 12 December, the party’s manifesto included encouraging environmentally friendly homes to be built. As the environment has become an important issue across the UK, every major political party included policies about greener and more energy efficient homes, showing these are areas important to a wide range of Britons.

For investors and landlords looking to make their property investments more future-proofed, it could be beneficial to make green improvements to your property portfolio.

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What are the top priorities for modern renters in the PRS?

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