7 top tips for securing a rented home
How do you bag a rental in one of the busiest markets in years? Below are some top tips for making that home yours.
Key takeaways
- Start your search early and be ready to pounce when you find a home you love
- Keep talking to your estate agent and be flexible on the areas you're prepared to move to
- Consider signing a longer contract. It'll give you and your landlord more security
The average cost of a rental home is now almost £1,000 a month across the UK.
High demand and a lack of supply is increasing competition for rental homes, according to the latest reports. Right now, it really helps to be super organised and in a position pounce as soon as the right rental becomes available.
1. Start your search early
Most rental homes have a two month notice period.
That means new homes for rent are generally available two months after they're first advertised.
If you leave it too late, you might miss out or you may even have to find temporary accommodation if your current tenancy is coming to an end.
2. Keep talking to your estate agent
Register with an estate agent and keep them updated with what you’re looking for.
Don’t just look online. If an estate agent knows you’re looking, chances are they will call you before a property is listed.
3. Think beyond one fixed location
We all know location is important. But when you're renting, it can help to be open to different areas. This will give you much more choice.
4. Act fast
Hesitating when you find the best property you've seen in weeks could cost you your dream rental.
Be available to view properties as soon as you hear about them and be ready to put an offer in straightaway.
5. Be flexible
Don’t have too many conditions involved in your offer.
There can be several offers on the table for a rental home, so you want to make yourselves seem like the most attractive renters.
6. Consider signing a longer contract
The longer you can lock in a tenancy agreement for, the better.
Securing a tenancy of two years or longer means more security for both you and your landlord.
You'll know what your rent will be for a longer period of time and your landlord knows their property will be occupied for longer too.
7. Have your documents ready to go
Bring your passports along on viewings so your Right to Rent checks can be done there and then if you decide to secure the home.
What's happening to rents?
The rate at which rents are rising reached a 13-year high of 8.3% in the final three months of 2021.
The average annual rent for those agreeing a new let is now £744 higher than pre-pandemic levels.
Even so, rents are only 12% higher than they were five years ago, after they fell in some areas during the early stages of the pandemic.
We can help you find your next home.
If you're looking for a rental home, check our latest available stock here.