Tenants in the UK would be happy to pay their landlord more rent if they were allowed to decorate the property themselves, new research has found.
According to a market research survey of 1,000 tenants carried out by OnePoll, Brits would be happy to pay an additional £149.52 per year if they could put their own personal stamp on a house or flat. Many landlords, do not allow tenants to make any changes to interior design to ensure it remains neutral and they can therefore find new tenants easily.
For landlords who do make improvements to their properties - or allow tenants to do so - it is important the changes are covered in their business insurance policy. Landlords insurance will protect a premises from the costs resulting from damage, including fires, flooding and malicious damage.
The research shows that landlords should also consider letting their tenants decorate the properties they live in. It is something that only 29 per cent of tenants are allowed to do, but with a quarter having lived in the same place for three or more years, many are keen to make the property feel more like their own by undertaking some interior design work.
It is estimated that there are two million private landlords in the UK, which together let out five million homes. With tenants willing to pay on average £149.52 more each year to be allowed to decorate their rented home, landlords allowing them to do so would create more than £530 million in extra revenue.