To most people, all-inclusive would mean unlimited Mai-Tais by the pool. However, the all-inclusive properties are the latest property trend for savvy renters looking to put a ceiling on bills.
According to rental app Movebubble, the demand for ‘bills-included’ homes has risen by 28 per cent year on year. The Home Walkthroughs video app saw the largest spike in the trend between March and April, rising by 101 per cent.
The all-inclusive rental home package means that all bills are included in the monthly rent. That includes utilities such as electricity, gas, water and Wi-Fi.
Bills-included homes offer the perk of making budgeting easier. Each month you cover all your household expenditures in one payment.
‘Many of us can empathise with the adage, “there’s always too much month left at the end of the money,” so having the certainty of paying a fixed amount of rent at the beginning of each month can be an easier way to manage your finances,’ says Adian Rushby, CEO of Movebubble.
This new trend is largely down to renters looking for financial certainty with a fixed monthly outgoing. Movebubble, suggest this has come about largely in response to the volatile economic climate at the moment.
‘2020 has been a turbulent and unpredictable year. Meaning many of us are looking to get our finances in order by creating some stability’ explains Aidan. ‘Especially in terms of outgoings’.
‘Bills not only represent the second biggest expense when it comes to renting but then can also be a ‘time vampire’. Searching around for the best ‘dual fuel’ tariffs and hounding that one flatmate every month for their share of the gas or water bill, is never fun.’
‘So having the peace of mind that utility payments are under control can offer tenants convenience and valuable peace of mind,’ he adds.
The only drawback to a bill-included property is not being able to hunt around for cheaper deals yourself. If you do go down the all-inclusive root make sure you aren’t being overcharged.
Assess how much the security and convenience of only paying one bill a month are worth to you – before committing to a lease.