Sunday, October 30, 2011
In response to the news that Homelet has seen a 17%
year-on-year increase in tenant referencing, Ian Potter,
operations manager at ARLA, said:
"The latest news from Homelet supports our evidence that the PRS
is reaching its limits as demand for homes soars. Our latest
research shows that the number of agents reporting more tenants
than properties has reached the highest level since records
began.
"For tenants, this means that there is often huge competition
for every property and it is therefore vital that consumers take
steps to ensure they are able to find a property that fits their
needs."
ARLA recommends the following for anyone looking to secure a
rental property in the current market:
Work out your true priorities
Before booking viewings, set in place key 'deal-breakers' as
well as areas for compromise. Knowing what things you're willing to
be flexible on can aid the decision-making process and help your
agent select properties to suit your specific needs.
Be prepared to make a prompt decision
With the best properties often being let quickly, it is
important to be able to make a swift and informed decision.
However, it it's even more important not to feel pressured into
accepting a property that does not fit your agreed standards -
quick decisions are different to rushed decisions.
Don't go it alone
As the adage goes, a problem shared is a problem halved, which
is why it can be useful to bring a friend or family member along to
any viewings for that crucial second opinion. Further to this,
using an agent can make the process easier. Licensed ARLA members
have industry-leading market knowledge, and are regulated - giving
you access to client money protection and a redress scheme - as
well as an informed opinion
Get a flavour of the local market
If you are moving to a new part of town, check it out on foot to
get a feel for the area before you begin your search. It is also a
good idea to conduct online research into average rents for the
area early-on to build up a picture of likely prices and adjust
your own expectations - or budget - accordingly.
Get your house in order
If possible, try to get your references and deposit ready before
beginning your search, to minimise delays once you have found the
property you wish to rent.