How to Survive in the Private Rented Sector in 2023

— Rachel Sharman

The Private Rented Sector (PRS) is a dynamic industry, with trends and best practices constantly shifting to meet supply and demand. As a People First company with over 20 years of experience, LOFT has our ear to the ground to understand what all target demographics expect from their rental property and what will stand out in the market.

Changes in the Private Rented Sector

The Private Rented Sector has undergone a huge shift throughout the 2000s, doubling in size since the turn of the century. And as we progress through 2023, this post-Covid economic landscape shows no signs of slowing the rental market down. By 2025, it’s expected that more than half of 20 to 39-year-olds will be renting.

But with this increased demand comes increased supply from landlords, investors and developers, and the importance of standing out from the crowd is crucial.

How to make properties appeal in 2023

At LOFT we've noticed a definite shift over the last few years in what landlords are requesting. Design-led interiors are increasingly preferred, rather than simply the most cost-effective solutions or hard-wearing products.

Landlords are focusing on the overall aesthetic of an interior and how it might fit with the resident’s lifestyle. Taking 2023 Private Rented Sector trends into account to appeal to the widest possible audience.

2023 Private Rented Sector Trends


1. Professionals want a home office space separate from their relaxing space, an area they can zone in and out of during their working hours.
2. By adding modern appliances that aren’t frequently seen outside of certain Build to Rent communities can instantaneously raise the value of a property.
3. Smart home technology is a guaranteed way to modernise a property and attract a professional, modern demographic.
4. Neutral interior design trends create a serene interior that incites tranquillity
5. Preferring eco-conscious or sustainable furniture and brands

You can find additional information on these trends, plus loads of 2023 interior design inspiration in LOFT's Lookbook 23 for the PRS

Capitalising on the Private Rented Sector


The biggest trend of 2023? Capitalising on the growing demand for furnished accommodation which is below the price of Build to Rent but above the quality of the rest of the marketplace.
Savvy landlords are using modern furniture and smart furnishings to create an aspirational lifestyle which appeals to their target market. Tailor-made interiors prove they care about the tenant’s quality of life, which then increases the potential of them becoming long-term tenants.

Given that 40% of landlords have experienced void periods lasting at least one month, keeping tenants in place and happy can save a lot of money.

Interested in learning more about how to survive in the Private Rented Sector? We’ve created an entire 2023 guide with expert advice - the LOFT Lookbook 23.

LOFT Lookbook 23

Stand out from the competition, attract top quality tenants, and maximise your profits.

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