Tenants reveal biggest ‘deal breakers’ when looking for rental property

Data sourced from millions of Barclays current accounts reveals spending on rent and mortgages rose just 1.5% year-on-year in June – much slower than May’s uplift of 6.3%. 

The 1.5% figure is the slowest rate of growth since March 2023. In further good news for households, spending on utilities dropped 15.6 per cent due to falling energy prices, with further declines predicted following the latest price cap decrease on July 1.

Consumer confidence also showed signs of recovery – Britons feel more optimistic about their ability to live within their means (up one percentage point to 73%) and job security (up four percentage points to 49%).

The Barclays research reveals the top 10 attributes that renters consider non-negotiable or ‘deal-breakers’ when assessing a rental property.

Almost half of renters (46%) say that the presence of damp and mould is a ‘deal-breaker’, while 34% consider access to a living room and outdoor space (32%) as necessities. One in three also feel that the property should have at least double-glazing on its windows, likely because double-glazed windows retain heat more easily, which can save on energy bills, and because they’re better at blocking out unwanted noise.

In a crowded market – 20% of renters feel there is too much competition for rental properties in their area – those looking for an edge over other applicants should look to highlight these qualities in their applications, where relevant. Similarly, one in three landlords say that personal communication from prospective tenants would make them more likely to consider accepting their application. However, only 23% of renters say they’re willing to try this, which gives applicants another opportunity to stand out from the pack.

Mark Arnold, head of savings and mortgages at Barclays, says: “Our latest spending figures paint an encouraging picture for UK consumers – rent and mortgage payments are stabilising, energy bills are coming down, and confidence is on the up. However, we’re yet to see this translate into spending on sprucing up homes and gardens, with most household categories still in decline. Now that summer has arrived, retailers will be hoping that the warmer weather can unlock that pent-up demand.

“The research also reveals how prospective tenants can stand out in a crowded market by highlighting sought-after attributes such as willingness to take good care of the property and having strong character references.”