Australian renters are constantly looking for better rental spaces, reveals a new survey commissioned by Australia’s largest co-living company, Hmlet.
The Pollfish survey interviewed renters aged 18-45 years in Sydney, Melbourne and Brisbane to understand the desire for renting and co-living.
A high level of dissatisfaction thanks to unresponsive landlords, inflexible leases and roommate incompatibility, is causing more than half of the renters (aged 18-34 years) to explore better rental opportunities in the market. A large segment of the respondents (76 percent) revealed that they were planning on moving in the next 18 months.
“Our survey shows that the vast majority of Australian renters want to improve their standard of living. At Hmlet, we are setting a new standard for how people live by providing a flexible and hassle-free living experience, with custom-designed homes and an engaged community, providing people with a far superior renting experience compared to what has traditionally been offered,” says Chrystan Paul, director of investment at Hmlet in Australia.
Hmlet operates nine co-living properties in Sydney with plans to open more to meet the needs of Australians and expats. Hmlet’s co-living offering encompasses fully-furnished apartments, utilities, unlimited Wi-Fi, weekly cleaning, maintenance and access to community events.
Size and affordability
Affordability is a major issue in the Sydney market for nine out of ten 18-34 year olds while six out of ten respondents are looking to move to a larger property, provided they found the right flatmates. This is a major barrier in traditional rental properties – both apartments and houses – with renters unable to afford the entire property or having to rely on flatmates to make it happen.
Half of the respondents (aged 35-44 years) revealed that their landlord, property manager or rental group was uncooperative when it came to fixing housing issues covering maintenance, fixtures, fittings and air-conditioning.
Finding compatible flatmates
Fifty three per cent of 18-24 year olds expressed their inability to find good flatmates in their city.
“We are seeing a real appetite among renters for a better rental product, the ability to live with the right flatmates and a desire to minimise negative experiences with landlords. We are learning that people want a seamless living experience that reflects the lifestyle preferences of the modern-day renter. Beyond flexible lease options and fully furnished custom-designed spaces, people want a range of offerings such as cleaning, laundry services, and the ability to live in prime locations with easy access to public transport,” said Paul.