The Covid-19 pandemic has forced us all to reassess what we want from our homes. At the end of last year, Zoopla analysed its advanced property search tool and the findings tell us some interesting facts about what renters are looking for in 2021…
Unsurprisingly ‘outdoor space’ came high up the list – after enduring several weeks of social isolation in the last year it’s understandable that renters want to ensure they have a small balcony, terrace or garden at home. The same is true when it comes to inside the home, with tenants wanting more space for a home office. One of the perks of co-living properties is the focus on the ‘community’ part of living – with separate spaces for living, working and socialising at home.
Of particular interest to the co-living sector is number 7 on Zoopla’s list – ‘all-inclusive bills’. For co-living operators, the ability to offer tenants one monthly, all-inclusive bill ticks a lot of boxes for prospective tenants who are attracted to this hassle free management of their bills, with no nasty surprises further down the line. It goes without saying that the inclusion of a high-speed internet connection is non-negotiable for renters who are now spending more time working from home too.
In January this year, Vaboo’s monthly tenant survey saw a huge 71% of renters respond that feeling safe and secure at home was a top priority. Part of the appeal of co-living properties is that they include regular maintenance and cleaning services and are governed by strict HMO (house of multiple occupancy) laws.
Another big trend for 2021 is desirable neighbourhoods and ‘localism’. Renters don’t want to travel far to buy a good coffee, sit in the park, or shop for groceries. Lokoom’s areas of Hackney, Camden and Highbury & Islington have a lot to offer tenants with close proximity to the areas’ best shops, restaurants and local amenities.
All the surveys we looked at showed an increased desire for tenants to rent a pet-friendly home. Interestingly the right for tenants to keep a pet at home is likely to become law later this year as the Dogs and Domestic Animals Bill progresses through parliamentary hearings.
Last but by no means least, the desire for community and social interaction is also of great importance to many young renters in 2021, after enduring three lockdowns in the space of a year. Personal connections is at the heart of what we deliver at Lokoom and we are well-positioned to take advantage of these shifting priorities in the years ahead.