Cycling changes tenants' expectations
- 10th November 2009
- Landlord Property News
Landlords could benefit by promoting a cycle-friendly attitude in their properties as cycling in London increases.
According to a research by ludlowthompson, cycling in the capital is becoming more popular, with 545,000 bicycle journeys made in London everyday.
Since 2000, the number of journeys made by Londoners by bike has risen from 1 in 84, to 1 in 50.
Of the thousands of tenants in London who prefer to live within cycling distance of their work, many will be attracted to a property by extra provisions provided for their bikes.
Stephen Ludlow, Director of ludlowthompson said: “Cyclists are increasingly important if you intend to let or sell to the 20-35 year old post-university market.”
“When renting a flat in converted houses, cyclists often ask if they can leave their bicycle in the shared hallway. Most contracts explicitly prevent this because if often leads to damage and can upset the other tenants. By agreeing, a landlord might have the edge if a tenant is weighing up two options.”
“It used to be the case that proximity to a tube station was critical to rent and house prices, but now that’s becoming less decisive with the growing band of cyclists. The location of a tucked-away cycle path can be a stronger selling point to a cyclist than a tube stop around the corner.”
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