Tag Archives: Rent

The Difference In Rental Paid Between Furnished And Unfurnished Properties

Furnished Whether you are a landlord or a tenant, you may be interested to read about some research that has been carried out that looks at the difference charged by landlords for furnished and unfurnished two bedroom flats in different cities in the UK.

There are pros and cons of both types of property lets for both tenants and landlords such as a furnished property may appeal more to a single tenant who is moving around the UK on a very frequent basis as he or she may not want to be bothered with the prospect of having to move their furniture frequently. However, a family looking for a long-term rent may prefer to bring their own furniture with them every time they move. A landlord may find it easier to rent out a furnished property and the additional rental income emanating from a furnished property may far outweigh over a period of time the initial financial outlay of buying the furniture and white goods.

The city in the UK where there was the biggest difference between the rental income charged on furnished and unfurnished two bedroom flats was Sheffield. The difference in that city was an average of 21%. A furnished property was being rented out at an average of £726 per calendar month whereas an unfurnished property was being rented out at an average of £598 per calendar month – a difference of £128 per calendar month.UK MAP

In London the difference was 9% with this equating to an extra £128 per calendar month.

In Birmingham there was a difference of 20% that, in monetary terms, was an extra £127 per calendar month.

In Manchester there was a difference of 15% that equates to a price difference of £101 per calendar month.

In Cardiff there was a difference of 7% that equates to a price difference of £50 per calendar month.

In Glasgow there was a difference of 13% that equates to a price difference of £86 per calendar month.

Whether you are a landlord looking to arrange buildings and contents cover on either a furnished or unfurnished property or are a tenant looking to arrange cover on your own contents and personal belongings in an unfurnished property then why not make contact with us here at AIB Insurance on 02380 268 351 and speak with a friendly, knowledgeable member of our team. He or she will discuss your requirements and arrange for you to receive a competitive quotation from one of the insurance companies on our extensive panel.

Families Are Biggest Category Of Private Tenant

Families RentingIf you are a landlord you may be interested to read that there are more families with children renting privately than any other type of tenant. That is based upon some research carried out by the National Landlords Association (NLA).

There has been a change in the last 4 years as to which type of tenant occupies a larger percentage of private rented property. Back in 2012 it was young single people that were the major type of householder that lived in private rented homes with 53% of tenants being in that category. The latest research reveals that the largest type of tenants renting privately in 2016 is families with children at 48%.

It is also interesting that 76% of those families taking part in the English Housing Survey that was carried out for the Department for Communities and Local Government indicated that they were happy with how long their tenancy agreement ran for and 79% of those people renewed their agreements or they remained the same when the original tenancy agreements came to an end. This survey also revealed that, in 2014 – 2015, the percentage of families renting privately was 37% compared to back in 2004-2005 when 30% of families were renting in the private sector.For Rent

The research carried out by the NLA and the above survey is perhaps an indication that many families with young children are happy with their landlord and the properties they are renting.

Whilst writing, landlords may also be interested to hear that an NLA poll called the NLA Quarterly Tenant Panel indicates that there has been a large increase in the number of retired people renting privately in recent years. When comparing polls carried out in Q1 of 2016 with Q4 of 2012, these have revealed that there has been an increase of around 220,000 in retired people now renting in the private sector.

Here at AIB Insurance, we are able to arrange landlords insurance as well as suitable cover for tenants who may wish to insure their contents and/or personal belongings. In this respect, why not give us a call on 02380 268 351 to discuss your requirements and obtain a quote without any obligation.