31% of tenants would pay more for onsite creche and childcare services than any other facility, at an average of £22 a month extra, according to research from Your Move.
The highest spenders in this category were 36 to 45-year olds, who were willing to spend an additional £32 a month above their normal rent for these services.
The survey also reveals that one of the most popular onsite facilities was a gym, with four in 10 tenants willing to pay more each month for this service. However, tenants were only willing to pay £20 a month extra for this. 36 to 45-year olds were willing to pay the most in this category, and these results reveal that as tenants are renting for longer, they are prepared to pay more for services that benefit their family needs and lifestyle.
Green spaces were still an important consideration for most tenants, with 32% willing to pay for a communal garden and 30% interested in a vegetable allotment. By comparison, the less popular facilities tenants would be willing to pay for were a games room (27%), recreational room (27%) and working from home ‘hub area’ (27%), with the average cost for each ranging from only £6 to £8 a month extra.
Martyn Alderton, national lettings director at Your Move and Reeds Rains, said: “Communal living provides a sense of community, and with over a quarter of households estimated to be privately rented by 2025 and 74% of tenants happy to embrace a communal living facility, our research shows that this is likely to grow in importance. A way of life usually associated with younger generations, these figures show this isn’t necessarily the case and it is interesting to see that tenants are willing to pay more for additional childcare facilities than other communal services, especially considering how some families are spending up to 45% of their income on childcare costs.
“While house price inflation is rising at a far steadier rate, affordability is still a concern for many who are having to rent for longer to save up for a deposit. However, this isn’t stopping tenants from considering rental properties as their long-term home. As a result, many are beginning to start families and tenants are looking for specific communal facilities that will help support their lifestyle and family.”