Rental costs, location and the number of bedrooms are among the most important things that tenants look for in a rental property - unlike the ability to keep pets or eco-friendly measures.
A survey of 682 renters by property firm Matusik Property Insights has revealed that affordability is a key concern for renters, with the actual rental costs being the most important thing prospective tenants look for when searching for accommodation.
Location, number of bedrooms and lease term were the next most important, with issues like housing type, secure off-street parking, street position and number of bathrooms of less importance.
Of little importance to renters, however, are furry friends and saving the planet.
"What isn’t important at all – according to our survey anyway – is the ability to keep pets and environmental sustainability measures such as rain tanks, solar power and other water/energy saving devices," said property analyst Michael Matusik. "Many commented that fast internet connection was far more important than the 'green' stuff."
The survey also found that tenants are keen to stay put, with 56% of respondents commenting that they would pay more rent to stay in their current accommodation.
Despite the focus on rental cost, it also seems that renters are finding costs manageable, with around three-quarters of respondents spending less than 30% of their income to cover rental payments.
"This is good news for landlords and the residential market in general," added Matusik. "Two-thirds of the renters surveyed say they are prepared to pay up to 5% more in rent in order to stay put, with a further 30% stating they would accept a greater lift. Apartment renters seem more willing to accept a higher increase in rent than those renting detached dwellings."
Do you have more than $120k in your super fund? You could use your super to buy property - Find out how
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out