Show Green! Tenants want agents to display eco-credentials

Tenants want letting agents, landlords and other property industry figures to more openly demonstrate their green credentials.

That’s the message from a new survey of some 2,000 UK tenants. 

The MRI survey showed that 72 per cent of renters say it is important that their building be managed in an environmentally friendly way, and 74 per cent say they wanted their landlord or property manager to have technologies in place that ensure their rental properties are green, energy-efficient spaces. 

Younger renters were much more likely to agree that environmental credentials were vital, with 75 per cent of those aged 18-24 agreeing, compared to just 67 per cent of those over 65. The findings reveal that 47 per cent of all respondents see the lack of green building management as a deal-breaker, with 59 per cent of 18 to 24 year-olds likely to take this more rigid stance when renting.

The research also shows that an overwhelming proportion - 79 per cent - of UK renters want to own their own property eventually, and that 80 per cent prefer to live in houses rather than flats while they are renting – even though just 63 per cent are doing so at the moment. 

Most UK renters live in cities, suburbs and towns - some 90 per cent - although more than a quarter of all respondents would prefer to be in rural communities, where just 10 per cent currently reside. Rural renters are most satisfied with where they live, with 81 per cent saying they are happy living where they are versus just over 50 per cent of those renting elsewhere.

The survey also reveals that, as we move further away from the pandemic, some attitudes to renting have changed.

Some 39 per cent say their expectations are “far greater” in terms of rental amenities such as private parking, access to high-speed broadband, additional storage, onsite security, exercise facilities, and an onsite coffee shop; and nearby facilities such as shopping, nightlife, healthcare services, green spaces and outdoor markets. 

The survey also revealed that 50 per cent of respondents say having amenities such as a hairstylist, dry cleaner or café onsite, as well as internal facilities such as a gym, party rooms or concierge services, makes living in an apartment complex “far more appealing.”

The younger the renter, the more likely they are to see ‘hotel-style’ amenities such as onsite gyms, party rooms, concierge services, hair salons, dry cleaners, and cafés as a difference maker, with 60 per cent of 18 to 24 year-olds wanting such facilities, compared to 37 per cent of over-65s.

“The rental housing report provides a wide-ranging look into the mindset of UK residential renters with revealing stats that show their expectations, demands and behaviours,” says James Lavery, Vice President of Marketing at MRI Software, the firm which commissioned the study. 

“The survey also provides a window on what rental trends are developing in the marketplace. One of the most noteworthy findings is that all renters – especially younger renters – now demand that landlords and building managers take a green approach to managing the properties they rent out.” 

The survey also suggests that two thirds of renters prefer to manage their relationship with their agent or landlord digitally and in a self-service manner. When it comes to signing documents, just over half still prefer to do so in person, but a third would like to do so via electronic signature on email or through an online portal – although only 29 per cent are able to currently.

Lavery concludes: “The results suggest that online portals and other digital tools have strong potential to become more popular as new generations move into the rental market and other residents are educated on the benefits. The findings demonstrate that, when targeting modern renters, landlords and property managers that offer the desired amenities, communication tools, payment options, and solid green credentials will be better positioned in a competitive market to win them over and maintain occupancy over the long term.”