How much do tenants value property safety?

A recent independent national survey of tenants highlighted the significant value placed on property safety. In fact, 90% of respondents believe the safety and condition of a property is very important with just under 60% prepared to pay more rent for a home that has been officially certified as being safe.

Conducted by Micromex Research, the independent survey of more than 1,000 current tenants from all states and territories in Australia and representing a broad range of socio-economic backgrounds and age groups delivered very interesting results.

After being provided with statistics about injuries that can occur in and around the home, 66% of respondents indicated that they would prefer to rent a home that has been certified as being safe by a reputable property safety inspection company like PropertySafe.

Interestingly for property management agencies and departments, the research also found that nearly 80% of tenants would prefer to rent from an agency that endorses PropertySafe inspections than one that doesn’t. This demonstrates that tenants trust and respect property managers and landlords that genuinely care about their safety in the home, making it easier for those agencies to attract quality tenants.

Families with children living at home were overwhelmingly the most receptive to the benefits of safety certification. They were closely followed by female tenants, with both groups significantly more likely to pay around $5 a week more rent for a property that has been certified safe in a PropertySafe report.

Overall, property safety and the condition of a property were ranked second in priority after price, surpassing proximity to transport, shops and schools. Some of the reasons for preferring to rent a property with PropertySafe certifications cited in the survey results included:

“Knowing a property is
safe for my family to live in is very important”

“Peace of mind knowing
any potential safety hazards have been addressed”

“I believe it would
offer an independent view to maximise my safety while living in this property”

“I want my family and
myself to be safe and I think the PropertySafe certificate would help with
this”

What
is PropertySafe?

PropertySafe specialises in safety inspections of residential properties all over Australia to maximise the safety of tenants and reduce the chance of injury from common hazards in and around the home. These include slip and trip hazards, fall hazards, fire hazards and electrical hazards, to name just a few. The inspection is commissioned by the landlord of the property. A certified safety inspector assesses the property inside and out. The result is an inspection report for the landlord outlining hazard areas that could potentially cause harm to a tenant. The report is designed to provide a number of options for the landlord to either eliminate the hazard or reduce its impact. Any major hazards detected must be addressed by the landlord before a property is certified safe. With personal injury claims on the rise, PropertySafe offers your agency and landlords an effective risk management strategy. Click here to view a sample report.

What
can I do as a property manager?

Outline the benefits of having a PropertySafe inspection report completed annually. It is also a good idea to highlight some of the findings of the research that suggest it is easier to find and retain good tenants in a property that has been deemed safe and sound, reducing vacancy periods. Click here to learn more or call 1300 350 000 to speak to a member of our team.

As an added bonus, simply by recommending PropertySafe to your landlords will entitle you and your team to receive one of Australia’s leading mobile cloud-based maintenance software solutions, Maintenance Manager, free of charge. Call 1300 155 888 for a demonstration.


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