The perfect rental property of the future.
In recent years, countless buy-to-let landlords have invested in high-rise new builds and affordable terraced period properties.
But consumer demand is changing, driven largely by changing expectations among the younger generations who typify the average renter. Andrew Charnley, Head of Corporate relationships at Together, speculates about what landlords can expect their tenants to crave in future.
Proximity to areas of major employment
There are many graduates who've stayed on in our cities after university, to take advantage of their plentiful job opportunities, buzzy nightlife and convenient amenities, and need somewhere to live. Transport costs can be an unwelcome extra burden while they deal with modest pay early in their careers, so look out for properties within easy walking distance of the city centre and big out-of-town employers.
Convenient public transport
Younger generations are reportedly falling out of love with car ownership – thanks, no doubt, to a combination of heavy urban traffic, expensive running costs, and an eye on their environmental impact. So for those who choose not to live within walking distance of work, the typical renter may instead want to be close to local trains and trams that offer regular (and reliable) service, without being affected by traffic like buses can be.
There are inevitably some renters who have no choice but to run a vehicle – but still have an eye towards the environment, and therefore crave an electric car. One of the major barriers to wide spread electric car adoption remains the relative infancy of Britain's charging infrastructure – so the option to charge at home, using a wallbox mounted on the property, could become seriously appealing in the coming years.
Attitudes towards older properties may be changing. Whereas once they were perhaps seen as characterful, some see 'period property' and think 'cold, draughty house'. Today's renters want to keep bills low, in order to save a deposit – so are likely attracted to well-insulated properties with double glazing, smart thermostats that can be controlled with their phones, and even low-carbon energy supplies, like solar panels and ground source heat pumps.
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