More prospective tenants are actively searching for apartments that come with ‘all bills included’ in the Build-to-Rent sector, according to Rightmove’s latest analysis, with this category of tenant enquiries growing the highest in the last 12 months.
According to Rightmove’s latest Build to Rent study, more prospective tenants than ever are searching for apartments to rent that come with ‘all bills included’ within their rent, with enquiries for this feature rising by a staggering 36% over the last year – the highest increase in feature-led searches on Rightmove’s platform out of all available features to choose from. Other features that tenants can search by on their platform include ‘Homes with Balconies’, ‘communal gardens’, and ‘zero deposits’, which have all also risen by 22% in the last 12 months.
As the rental market continues to evolve further to accommodate the emergence of ‘lifestyle renters’, Rightmove has also seen a decrease in tenants searching for ‘Private dining rooms’ on their platform, and a significant increase in searches for ‘Residents lounge’, ‘Social activities’, and ‘Games room’, by 9.5%, 10%, and 11% respectively – indicating a pivot in market demand towards community-led living spaces and co-living developments.
Rightmove’s Build to Rent study also found that the largest distribution of tenant demand compared to pre-pandemic levels has moved to one-bedroom apartments – with tenants favouring spacious one-bedroom properties over studios. Additionally, urban rents continue to outperform the growth of both rural and suburban rental properties, with urban rent levels rising by 14% on the previous year as more students and professionals relocate back into the city centres post-pandemic.
To learn more about the current trends in the UK rental market and how you can benefit, get in contact with our expert property consultants today.