This week a new client approached us utterly exasperated. She had set up a day of viewings to see seven potential family rental houses. However, as the viewing day approached, one by one, the properties were no longer available. Already let to other families, she didn’t even get a foot in the door to view and have the opportunity to make an offer. A couple of the options were also taken off the market as the current tenants decided to extend their lease – aware that it is currently slim pickings in the rental and sales market.
So why is the rental market so squeezed at the moment? Chiltern Relocation wrote a blog recently explaining the issues here but essentially the reasons lie in the Stamp Duty holiday, lockdown and lack of sales supply.
Some landlords are also insisting on a first round of virtual viewings so you need to be registered for virtual tours before being given the chance to see it in the flesh.
What did our client do wrong?
Essentially if you are waiting for rental options to pop up on Rightmove/Primelocation/Zoopla you are already too late. You will never be ‘first in’ to a property this way. Our client scrolled through property search engines, pinpointed her shortlist and made appointments. However, by the time it came to view the options, they had all been let.
How does Chiltern Relocation do things differently?
Having been in the sales and rental market for over 16 years, Chiltern Relocation has excellent links with a wide range of local agents across Bucks, Berks, Herts and Oxfordshire. We speak to landlords and letting agents prior to current tenancies coming to an end so we know which properties are coming to the market and when. We know which properties are sought-after and which ones make excellent family rental homes. Estate agents notify us when they value a rental option so we are in a position to advise clients prior to the property hitting the search engines. Our clients tend to be able to react quickly and are very committed, so agents are keen to keep Chiltern Relocation in the loop.
If you want to stand a chance of getting a foot through the door you need to alter your approach
Speak to letting agents rather than scrolling. Even better if you can pop in and see agents so they can put a face to a name and really understand your requirements. This way when they are out valuing properties, they will have you at the forefront of their mind. Also, you need to have some flexibility in your search criteria and the ability to compromise.
Case Study – Why Compromise?
A client needed to move from her central rental where they had lived for over 7 years. They had enjoyed a four-bedroom detached in in town just steps from the High Street but the landlord now wanted to sell. Rental prices had increased substantially over this time and they now felt priced out of the market. Worried that they would need to look a little further afield we encouraged the family to be flexible with their search requirements. When a three-bedroom, semi-detached came to the market they viewed it with some uncertainty. However, this modern three-story house had tonnes of appeal. The third floor was instantly eyed-up by their teenage daughters with two bedrooms and a bathroom between them, the living space was split over two floors giving them more living space than the current house and the garden was perfectly private and didn’t have a ‘semi’ feel to it. Location wise it was perfectly central so no compromise was needed here – the girls could continue to walk to school and the couple to the train station. The family were thrilled that this option ticked all the boxes – and that they thought outside the box to view it in the first place.
If you want to be successful, be ready to view as soon as possible – put a hold on your other diary commitments and get out there.
Chiltern Relocation has also seen a big rise in ‘Secret Sellers’ in the past year. If you want to get ahead in the sales market read our blog here.
If you would like help with your rental search please do get in touch. Email: enquiries@chilternrelocation.com Tel: 01494 672086. Web: www.chilternrelocation.com
