"Offering technology upgrades in rental properties can help boost tenant satisfaction by improving security, convenience, and efficiency."
- Eduardo Garcia Rodriguez, Analyst at Capterra
Of those surveyed (4,800), as part of Capterra’s Global Tenant Experience Survey 2024, 43% of tenants in the UK are dissatisfied with the amount they pay for their current rental property – compared to 36% of tenants globally. Notably, 65% thought higher rental prices caused by short-term rentals were the biggest market challenge, with 80% of tenants revealing that rising rents in their area have significantly impacted their standard of living.
Capterra stressed that landlords must adapt as rising costs impact spending and influence tenants’ renting decisions; prioritising modern rental experiences that include technology could set them apart from their competition.
Offering tenants digital features isn’t widespread; only 34% of tenants have access to online document portals, followed by online payment portals (19%), dedicated communication platforms (10%), smart locks (7%), and remote security apps (7%).
Yet, there is a clear demand for these features with 73% of tenants in the UK that don’t have access to digital tools in their rental properties wanting them – compared to 65% of tenants globally. Only 56% of property owners in the UK offer technology & digital tools as part of their rental portfolio.
Additional features that tenants could justify paying higher rental prices for include, home security systems (30%), smart appliances (28%), high-speed connectivity options (25%), and smart home automation systems (24%).
“Offering technology upgrades in rental properties can help boost tenant satisfaction by improving security, convenience, and efficiency. However, as rental costs rise, these features should no longer just be perceived as nice-to-haves but rather, key influencing factors in a tenant’s rental decision,” explained Eduardo Garcia Rodriguez, Analyst at Capterra.
