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Renters Willing To Pay More For Homes With Smart Features

UK tenants are increasingly expecting to have smart technology integrated into homes, a new survey has found. Furthermore, according to a report in Letting Agent Today, a fifth of tenants would pay 10% higher levels of monthly rent for accommodation that was kitted out with modern technology.

The survey of 1,000 tenants across the UK found that instant superfast broadband connectivity was pretty much non-negotiable, with 85% of renters expecting this as standard. As many more of us have worked from home over the past 18 months, a reliable internet connection is crucial, rather than a convenience.

Other features which even five years ago, most people would regard as a bonus, are becoming seen as the norm. For example, 75% of renters now expect to be able to control the heating and lighting through smart apps, which allow timing and temperature to be operated remotely. 74% would also require smart security systems.

Survey commissioner Anne Malone said: “Our findings demonstrate that people want more than the basics from their rental homes – they’re looking for a place that gives them a good quality of life too as for many their home is now also their office. Super-fast broadband, in particular, is no longer just a ‘nice-to-have’ but an essential utility for many households”.

As the growth in the market for purpose-built to rent property increases, renters are expecting homes to be fully modernised and adapted to their needs. According to the Buy Association, more than 10,000 built-to-rent homes were built in the last two years, from almost none 10 years ago.

These developments are built in optimal sites close to towns and cities, and cater specifically to a new flexible generation of renters, whether they be young and tech savvy, families, pet owners, or older people looking for a fuss-free lifestyle with a secure tenancy.

For letting agents in Ingatestone, please get in touch today.

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