Did you know, that since the pandemic, over 40% of people continue to work from home. For some, this is on a permanent basis, whilst others have flexibility with hybrid working options. Research shows that is more common for those with dependent children and those who are self-employed. Interestingly, working from home is more common with homeowners than it is with renters. We had to find out why…
A survey of over 12,000 renters found over half of the renters would be encouraged to choose quicker or rent for longer, and one in six would be willing to pay more if a property was furnished to support home working. Simply put, most rental properties don’t offer that additional work-from-home space.
Think about it. When it comes to working from home, it’s important to have a dedicated workspace that allows you to focus on your work and be productive. Nobody wants to work from the kitchen table anymore and the corner of the bedroom you sleep in is even worse! This workspace should ideally be in a quiet area of your home where you can minimize distractions and interruptions.
In addition to having a dedicated workspace, it’s also important to have reliable internet access, as well as any necessary equipment or tools required for your job. This might include a computer, phone, printer, or other equipment. People need space for all this equipment. Luckily reliable internet is the norm now for most parts of Lancaster, with ultrafast internet access available in most areas of the city.
Overall, a suitable property for working from home should provide a comfortable and productive workspace, reliable internet access and necessary equipment, and a separation between work and personal life. This can be hard in a rental property with most tenants opting for a home with just the right number of bedrooms they need. Most rental properties are just 1 or 2 bedrooms.
If 1 in 6 people would be willing to pay more if a home was furnished to suit working from home, and over 50%of renters are saying they would stop longer, is this something you would consider doing to your rental property? It’s something worth considering!
My name is Michelle Gallagher. I love to chat all things property. If you are thinking of investing in the Lancaster or Morecambe property market, please get in touch. At JDG we are always here to help.
Thanks for reading
Michelle
