Rental costs remain the key concern for tenants in the private rental sector (PRS) but increasing numbers have worries about fees and communication with their lettings agent, research claims.

PRSim – LSL’s PRS and Build to Rent consultancy – has revealed the latest results of its annual tenant survey, claiming to show what renters really want.

The research found that the most common concern among tenants was the cost of rent, cited by 43% of respondents, but this was down one percentage point on the previous poll in 2017.

In contrast, 10% were concerned about how their lettings agent or landlord communicated, up three percentage points from 2017, and the proportion of those concerned about fees increased two percentage points to 34%.

The report identified four types of tenants: young independents who were typically aged 18-24; flexible professionals and budgeting families both aged 25-44; and those reconciled with renting, typically aged 45 and over.

Young independents were most likely to have lower incomes and spend disposable income on socialising and wellbeing.

Flexible professionals, while having similar tastes, were more likely to have the additional cost of running a car or keeping a pet.

Budgeting families were more likely to enjoy family oriented activities such as swimming and park visits, according to the research, while those who are reconciled with renting also focus on socialising and are more likely to need somewhere to park a vehicle.

The reconciled renters were found to be the happiest, with 72% saying they were content with their situation, while budgeting families were the least satisfied with renting at 63%.

Tenants were also asked to rank the most important factor when renting out of five.

The most popular factor was property condition, given an average score of 4.7, while 4.6, backed value for money, landlord quality and agent communication.

This was above parking and having a garden, which got average scores of 4.1 and 3.6 respectively.

Half of tenants said they would be interested in a deposit replacement scheme, with most support coming from budgeting families at 55%.

Tenants also said they would be willing to pay £20 extra on their rent for parking, £24 to have a pet and £28 for house cleaning.

David Bond, head of PRS & Build to Rent at PRSim, said: “What has also become evident is that tenants have different priorities dependent at what life stage they may be at, and that, while many could be guilty of assuming that renting is only for the young, there are vast and growing demand from tenants of all ages and, increasingly, from older renters who are reconciled – and happy – to rent in the longer term.”