"Our research illustrates the importance of ‘personalising’ the living area to generation rent and making it more than just rental space"
According to the report, those that plan to live in rental accommodation for an extended period of time will often want to make it feel more like a 'home'. As such, they may make small home improvements such as putting up shelves or choosing their preferred colours for the walls. Usually if these changes are unnecessary, a landlord can choose not to foot the bill, leaving the tenants with the option of paying themselves. However, with three quarters of renters paying up for these home improvements, generation rent are clearly getting the raw-end of the deal.
In terms of how much the average tenant spends on rental home improvements, it breaks down fairly evenly despite the difference in price: 26% have spent less than £100, 25% have spent between £100 and £500, and 23% have spent more than £500 on home improvements so far. Looking at the differences in age ranges, we can see that with age comes more spending. 27% of those aged over 55 have spent over £500 on improving their rental accommodation, whereas only 15% of those aged 18-34 have reached this expenditure.
The city of Sheffield shows the highest rate of tenants making home improvements whilst renting, with a total of 85% spending their own money to improve their rented living space. Whereas Leeds shows the lowest level, with 40% of tenants never paying to conduct home improvements on a rental property. Meanwhile London’s results show that 74% of tenants have paid for home improvements in a rental property.
In terms of paying the most towards home improvements, Liverpool and Glasgow topped the list, each with 33% of tenants paying more than £500 so far.
Stephen Jury, Spokesperson for Plentific, said: “Whilst tenants can consult and charge their landlord for any necessary changes, our findings show that most renters will pay for and conduct some home improvements themselves. Our research illustrates the importance of ‘personalising’ the living area to generation rent and making it more than just rental space.”
