It’s tough for many to find a place to rent in the current market, and current climate. But there are ways you can help your chances. We took a look at winning the rental race.
The Situation
In today’s market, trying to locate a place to rent and getting there before your rivals can feel like an unending race you’ll never win.
According to real estate website Zoopla, there are now a third fewer rental properties for renters to access than there were prior to the pandemic.
So what can you do to ensure your new house in the face of such fierce demand?
Most people are aware of how important it is to have a good credit report and a secured deposit.
However, how do you persuade a landlord to choose you over other applicants. And while avoiding bidding wars and lengthy lines on “open home” day? You can take a few actions to advance.
Winning The Rental Race – Clarity Of Intentions
According to Rightmove, 70% of rental listings got an email inquiry from a prospective tenant. These people were seeking to view a property the day after it was posted on the website.
Tenants must therefore do their research and determine what they truly desire in a house. This is in order to be ready to target the right properties. And then move fast, with focus.
As a result, they are able to act swiftly and jump to the front of the line when instant alerts arrive in their inbox. Be equipped and laser-focused. Being first will help, but it won’t definitely guarantee you the property.
It is essential to know what the property needs to have, such as storage for a bike or a washing machine in situ. That way, if you view a home that ticks all the boxes, you can apply for a tenancy on the spot.
Be Ready To Seal The Deal
Insuring you are well-informed is extremely helpful to landlords and brokers when making a tenant selection. Making sure you have as much information as you can. This can include several references with contacts, to get the ball rolling if necessary.
Be honest about your situation and how lenient you can be with deadlines. Be truthful and transparent. It is best to cooperate with an owner as much as you can.
Prospective tenants must show proof of their salary in addition to having the holding deposit equal to one week’s rent in their account. This involves informing your employer and current landlord that you will require references.
Winning The Rental Race – Spread The Net
Try thinking outside the box if you’ve given up looking for an apartment in your ideal neighbourhood. More properties that you might not have thought of can enter your orbit as a result of a journey time search.
Geographically, a house might appear to be too far away, but the distance may not be as great as you initially believed. Your search may now include less expensive neighbourhoods or slower rental marketplaces.
Young people who are frequently living away from home for the first time are facing a crisis as a result of an increasing student population that is not being matched by an increase in housing availability. Be flexible in your housing preferences, expand your search to include non-student neighborhoods, and be prepared to drive a little further.
