Renters Like a Speedy Connection
A fast internet connection is far more important to most tenants than having a water tank or solar power, according to a new survey.
In the recent survey by property commentator Michael Matusik, rent price topped the list of the seven most important things tenants consider when choosing rental accommodation.
This was followed closely by location, number of bedrooms, lease arrangements, property type, resident off-street parking and how quiet the immediate area is.
While renters' wish lists included lots of bathrooms, fancy internal design and nearby visitor parking, these things weren't considered important enough to pay more rent for.
The survey found 70% of tenants were looking to buy a home but were happy to stay where they are, and were willing to pay more in rent to do so.
Two-thirds of renters were prepared to pay up to 5% more in rent to stay put and a further 30% would accept an even bigger increase. Apartment dwellers were more willing to accept a steeper increase than those renting detached dwellings.
Two out of five renters thought the rental market in their area was balanced; another third labelled it undersupplied.
It found 43% would move to a less expensive area to avoid a rent increase, while 37% would move to a lesser property in the same area and 19% said they would sub-lease or share to meet the costs.
Close to a third of renters find new accommodation in the same suburb they already live in, while nearly half move to a neighbouring suburb.
Forty two per cent of respondents are planning to buy within the next 12 months, 16% in the next six months and 12% in the next one to two years with the lack of a deposit named the greatest inhibitor.