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Buy to Let

Permission to keep pets is top priority for renters

Christina Hoghton
Written By:
Christina Hoghton
Posted:
Updated:
29/04/2022

Tenants are looking for rental properties they can make a home in, and that includes allowing their four-legged friends and other pets

Nearly one in five (18%) tenants say that permission to keep pets is in their top three priorities when looking for a home to rent, according to Paragon Bank.

But, despite the high proportion of pet loving tenants, Government statistics show only 7% of landlords market their properties as pet friendly.

What renters want

In a report it commissioned from the Social Market Foundation (SMF), the buy-to-let lender asked about what renters look for in a property.

The most important consideration is the monthly rent cost, a top three priority for over half (55%) of those surveyed.

This was followed by property size, in terms of the number of bedrooms, which is prioritised by 35% of renters.

Outdoor space was also high in the list of priorities.

Location, location, location

Tenants were also asked what’s important about the area they rent a home in.

Being close enough to work was a priority for just under one-in-four renters (38%), closely followed by public transport facilities (37%) and shops (36%).

Richard Rowntree, mortgages managing director for Paragon Bank said: “It is unsurprising that the monthly rent cost is the top consideration for tenants. With a shortage of stock seen alongside high demand for privately rented homes, this need for affordable housing reinforces the importance of investment in the private rented sector.

“It was interesting to see the value that renters place on the things that help to shape their everyday lives, such as keeping pets and outside space. The SMF study showed that tenants are likely to stay in a property for the long-term and they want to make it a real home, so we would encourage landlords to consider how they can facilitate that.”