Tenants getting pickier
05 April 2004
The vast majority of residential tenants are professionals, according to a study conducted by buy to let lending specialist Mortgage Trust.
An overwhelming 75 per cent of renters now appear to be those in work who are opting to climb the property ladder a little later than in the past.
Recent research by Marketplace at Bradford and Bingley suggested that a quarter of workers now have to wait up to six years before buying their first property.
Yet as a result, many tenants are expecting more from their landlords, with mod cons rating higher than furniture for most renters.
Six out of ten landlords (59 per cent) consider the provision of a washing machine to be the most important facility when trying to attract tenants.
After a washing machine comes a freezer (43 per cent), a telephone (39 per cent), and then furniture (31 per cent), followed by a microwave oven (22 per cent), and finally a dishwasher (14 per cent).
Nicola Severn, marketing manager at Mortgage Trust said: "Tenants are becoming settled into their rental home and demands are becoming increasingly sophisticated."