Cost still the most important factor, but a lick of paint would also help say prospective renters!

SOUTHEND, U.K. - Oct. 9, 2013 - PRLog -- Updated research* from Cover4LetProperty (http://www.cover4letproperty.co.uk) – the landlord insurance specialists - reveals that costs have become more important than ever when looking to rent. The study – which was originally run in March 2013 and then re-run again 6 months later – reveals in that time, attitudes have also changed in relation to décor and location.

The survey revisited what is important to potential renters – and how gender can influence these choices, too. The top factors which affect whether someone will rent a property are:

cost - 80% (up 9%);
location (e.g. near to shops, the railway station, a park etc) - 65% (up 5%);
decor – previously, nearly one in four (24%) were influenced, now 38% of prospective tenants take in to account the decor;
ease of parking appears to be more important (currently 37% compared to 26% six months ago);
whether it has a garden – 34% (no change).

There were gender differences with these preferences, too:

65% of females said a garden is as important as the cost (no change);
92% of males focus solely on the cost (up 16%) though 31% (compared to 9% of males six months ago) were also concerned whether the property has a garden;
where previously just 6% of females placed an importance on getting on with their landlord, this has increased to one in ten.

When asked: “How many rented properties have you lived in during the last five years?”

31% have lived in 2-3 properties – down 22%;
58% of renters have stayed for more than 5 years in the same property (up 21% since March);
8% of females had lived in 4 or more properties in the last 5 years (compared to 15% of males).

Richard Burgess, Director at Cover4LetProperty, commented: “From a renters’ point of view, price is still the key issue, with location and decor following up behind. For a landlord, this information is useful if they are looking to increase their portfolio or rent from existing property; they can use improvements in decor or property location to maximize revenues from their investments.”

Ends

*Independent study carried out for Cover4LetProperty October 2013 by Usurv.