How to Secure a Rental in a challenging market

Why is there a shortage of rental homes?

Property guru and TV celebrity Phil Spencer, spoke about the problems surrounding the rental market in this weekend’s edition of The Sunday Times. There is increasing pressure on landlords to comply with additional laws and legislation – with more to come if the government succeeds in bringing the Renters Reform Bill into law. Phil explained how the scores of laws already affecting the private rental market is dramatically impacting the rental market supply. 

What are the costs impacts of the new legislation?

Private landlords make up approximately 97% of the current UK rental stock and changes to legal regulations, licensing and fees are therefore incumbent on private individuals rather than large housing corporations who have the staff to manage it. Whilst it is fantastic to have these new measures in place in terms of energy efficiency ratings and HMO requirements for example, it means that private landlords are deciding to sell up rather than face huge bills and red tape to make sure that their property complies with the endless regulations.

With rental options further diminishing how do you secure a rental in this very crowded and competitive market?

Here are Chiltern Relocation’s top tips:

• Get off the online search portals and hit the phones. Making a connection with letting agents who know your requirements and that you are committed to the search is vital
• Create a mini ‘bio’ for the landlord about you, your suitability and requirements. Landlords will be spoilt for choice and will want to know if you suit their property. Make it clear whether you are looking for long term, your timescale, your employment, references from previous rentals. It is not just about the money for many private landlords – it needs to be a good fit. Here is an example bio:
  1. Full name, phone number, email address, home address – 
  2. How many people will be living in the property adults and children?
  3. Ages of children if there are any –
  4. Any pets, smoker or non-smoker –
  5. Job/s of people paying the rent –
  6. What is your offer for the rental?
  7. When would you like to move ?
• Arrange a viewing as quickly as possible and be flexible about viewing appointments – the rental market moves very quickly
• If you can see more than one rental option, try to group them on the same day. This way you can get a good understanding by comparing rental values and make an informed decision quickly.
• Be friendly to the letting agents! They are selling you to the landlord so you need to make sure you are approachable and accommodating.

If you would like further information please call Chiltern Relocation on 01494 672086 at email enquiries@chilternrelocation.com or visit our website www.chilternrelocation.com