Golden rules for tenants this summer

The summer lettings market is now in full swing! Feedback from our teams show a rise in tenants, however, stock levels have not increased by as much highlighting that demand is outstripping supply.

Our statistics display that tenant registrations in June were 47% up on April, whereas new properties coming to the market only rose by 19% in the same period.  What does this mean for tenants? To stand the best chance of succeeding in this very busy and highly active environment, it would be sensible and in their best interest to follow some golden rules:

  • Register with your letting agent. Many people assume that they can keep abreast of new properties coming into the market by using one of the numerous property web portals.  What many people tend to forget is that the agent will have details of new properties well before they make it online, and by keeping in close contact with your agent it is more likely that you will hear about these properties.
  • If there is a number of you looking to share a property, ensure that your agent has contact details for as many as possible of you.
  • Be ready to act first if you see a suitable property. With the level of competition in this current market, any delay could mean that someone else takes your dream property.
  • Consider taking a short let of preferably a few weeks to a few months, to trial out an area or to bridge the gap between longer term tenancies.
  • Once you have decided on and agreed to obtain a property, make sure all of your referees (previous landlord, employer etc) are briefed and able to provide a reference quickly, to prevent any delays that may arise. 
Tags:
Rental review, Views.