A survey carried out by leading insurance provider has revealed that 43% of tenants would be willing to pay more rent if their landlord gave the green light to more personal decorative schemes. On average, tenants said they would pay an extra £149 a year, which equates to £530 million in extra revenue for the private rental sector.
Keeping it Neutral
Currently, only 2% of tenants are allowed to decorate their property how they like, but with so many living in rental accommodation for more than three years, it is perfectly understandable that they want to be able to personalise their home. In many cases, landlords opt for neutral colours when decorating buy to let properties, so tenants have to settle for boring magnolia and cream.
What Else Can’t Tenants Do?
There is a long list of other things landlords stipulate tenants can’t do, including hanging TVs on the wall, fixing pictures and mirrors using screws, and using blue-tack to stick posters up. Interestingly, although only 28% of tenants ask their landlord if they can redecorate, 76% of landlords agree they can, even when it is explicitly forbidden in the tenancy agreement.
“Landlords who allow tenants to personalise their property could be favoured over those who don’t and may be able to command a higher rental price,” says David Hadden from Endsleigh.
“If tenants feel at home in their property they may also have longer tenancies.”
So, would you let your tenants decorate if they were happy to pay extra rent for the privilege?
