Following the strong interest from our recent piece on furnishing strategies for landlords, we’re sharing some evidence that backs up why these approaches work so well and explaining the reason behind them. With data and insights from trusted sources, we explain how these strategies can enhance rental properties’ appeal and attract quality tenants.
As the rental market continues to shift, millennials and Gen Z—who now make up 80% of renters—are redefining what makes a rental property desirable. They’re looking for places that blend style, sustainability, and comfort. Our carefully curated furniture packages are designed to help landlords minimise void periods and boost rental yields. See below for how our strategies that have led to interest are supported by solid data.
1. Create Inviting Living Spaces: Evidence Shows What Attracts Tenants
Millennials and Gen Z renters spent a significant £67.3 billion on rent in 2023, up from £58 billion in 2022, which shows just how influential they are in the rental market (source: Landlord Knowledge). Our furniture packages combine modern aesthetics and high practicality, appealing to modern tenants. Private landlords contributed £44.7 billion to the UK’s total rental income in 2022-2023. Targeting these key demographics is crucial for staying competitive (source: GOV.UK, 2024).
Designing living spaces that align with their lifestyle preferences isn’t beneficial, it’s necessary. According to the Home Staging Association, professionally staged properties, which include inviting and well-designed living spaces, sell or rent 73% faster than non-staged properties. And we can further back that claim with 85% of properties we furnish renting in under 48 hours.
2. Prioritise Comfort and Sustainability in Bedrooms: Data Shows Tenants Will Pay More
Gen Z, who make up 36% of the market, are highly eco-conscious, and 64% are willing to pay more for sustainable living options (source: Deloitte), given their general increased awareness over their millennial counterparts. Gen Z shows a clear preference for properties that offer sustainable materials and energy-efficient appliances. At InStyle Direct, our sustainable furnishing options, using FSC-certified wood and recycled materials, are precisely what these renters are looking for. Meanwhile, Zoopla reports that the percentage of income spent on rent is at its highest in a decade, indicating that tenants value properties that go that extra mile. (source: Zoopla Rental Market Report, June 2024).
3. Modernise Kitchens with Functional Designs: High Demand for Well-Equipped Rentals
With the average rent for newly let properties rising to £1,348 per month (source: Zoopla Rental Market Report, June 2024), tenants are willing to pay more for homes with modern, functional kitchens. Properties that blend contemporary style with practicality tend to stand out in a competitive market, attracting tenants quickly. Zoopla’s data underscores that up-to-date kitchens are more likely to command higher rents and reduce vacancies.
4. Upgrade Bathrooms to Enhance Tenant Experience: Stats Highlight the Importance
A well-designed bathroom is a big renting factor that tenants value highly. 81% of millennials consider stylish and functional bathrooms a top priority when choosing a rental (source: National Association of Home Builders). We ensure our bathroom upgrades performed under our refurbishment services are beautiful and practical, featuring quality fixtures and clever storage solutions. Given that rental inflation has slowed in some areas, properties with standout bathrooms will have the upper hand (source: Zoopla Rental Market Report, June 2024).
5. Optimise Property Layout with Smart Storage Solutions: Data Supports Efficient Use of Space
With new homes getting smaller on average, making the most of available space is paramount. Smart storage solutions, such as our built-in shelving and under-bed storage, enhance functionality and appeal. Research by the National Association of Home Builders (NAHB) indicated that 80% of renters look for homes that have smart storage solutions like built-in shelving, closets, and multifunctional furniture with hidden storage options. Properties that offer these features are more likely to attract tenants because who doesn’t want extra space?
6. Embed Eco-Friendly Furniture and Appliances: Backed by Tenant Preferences
Sustainability isn’t deemed as a luxury anymore, it’s a requirement for many tenants today. Research from Knight Frank shows that 56% of renters are willing to pay more for properties with eco-friendly features (source: Knight Frank). InStyle Direct’s sustainable furniture packages and energy-efficient appliances help landlords meet this demand. At the same time, Zoopla’s findings suggest that rental homes featuring these elements continue to attract steady interest (source: Zoopla Rental Market Report, June 2024).
7. Focus on Safety and Compliance in Furnishings: Meeting Tenant Expectations
Tenant safety is non-negotiable. 75% of renters say safety standards are a top consideration when choosing a property (source: SafeHome). Our Crib 5-compliant furnishings are designed to meet these standards, ensuring peace of mind for tenants and landlords alike. As The Leasehold Advisory Service notes, understanding and adhering to safety regulations, especially in leasehold properties, is critical to maintaining a good landlord-tenant relationship (source: The Leasehold Advisory Service, 2024).
8. Deliver High-Quality Furnishings at Competitive Prices: Investor Packages Prove Effective
Our investor-focused furniture packages are tailored to provide high-quality aesthetics and long-lasting durability without compromising cost-effectiveness. Starting at £3,395, our Investor Furniture Package is crafted to boost ROI by offering attractive, durable furnishings that withstand multiple tenancies. With 85% of our fully furnished properties renting out within 48 hours, our packages are an effective solution for investors looking to minimise void periods and maximise rental yields. The fact that 72% of millennials are looking for value-for-money rentals (source: PropertyWire) further supports the effectiveness of highly affordable furnishing, as landlords can pass this saving on to their tenants.
9. Invest in Professional Furnishing and High-Quality Visual Marketing: Proven to Enhance Property Appeal
In a market where London tenants paid £32.1 billion in rent this year (source: Landlord Knowledge), professional furnishing and quality visual marketing are powerful tools. Well-furnished properties attract more interest and can rent up to 73% faster than unfurnished ones (source: HomeLet). Our furniture packages showcase your property’s full potential, reducing time on the market and improving rental outcomes. Additionally, we provide professional photoshoots free of charge to ensure your listings stand out and capture attention.
Conclusion
By implementing our evidence-backed furnishing strategies, landlords can attract modern tenants, particularly millennials and Gen Z, who are searching for design, sustainability, and comfort. At InStyle Direct, we ensure our high-quality furnishings add value to properties, increasing returns and ensuring quicker rentals in today’s dynamic rental market.
Please feel free to contact our experts to learn more about how our furnishings for rental properties can work for you and your business. Our team can help you maximise your property’s potential and ensure a strong return on investment.
