New research by GVA and PRSim has revealed that 71% of Scottish renters are happy renting and 82% feel it fits their lifestyle choice. Even though their main residential goal is to buy in the future, they are content with renting and in fact a third of 20-34 year old renters look for three year or longer tenancies.
GVA director, Alistair Carmichael made comments regarding the effect of the UK housing crisis on buying: “Whilst the housing shortage and subsequent impact on affordability has made it challenging for those who aspire to own their own home to get a mortgage, it is clear renting is no longer viewed as a stop-gap choice and actually works well for many people looking for affordability and flexibility.”
Similar consideration in choosing rental homes to buying
With people increasingly viewing their rental property as a long term home, tenants are tending to select their next abode with the same level of consideration as they would if they were buying. There are a variety of prioritising factors that tenants look for when choosing a property.
Usurv carried out a survey on behalf of Cover4LetProperty insurance specialists and discovered that 88% of renters view cost as the most crucial element when selecting a home to rent and also 79% see location as the main reason.
Parking comes up fairly high on the list of priorities too. Almost half (47%) said being able to park easily beside their home is a significant aspect when considering where to live.
Other factors
Another determining factor was whether the property had a garden, with 41% stating that this is important to them. Although having a good relationship with your landlord may be thought of as essential, only 32% of renters regarded this as a key factor.
29% viewed the decoration of the property as a significant consideration, yet only 4% stated the importance of being able to redecorate the place to suit their own taste. Whether pets were allowed in a property was seen as crucial by 28%.
Cover4LetProperty have conducted these bi-annual surveys since 2013, determining what is important to renters and how these factors can constantly change over time.
