As forecasters predict that rents are to rise faster than house prices in 2013, it’s a tumultuous time for tenants. If you are on the rental market, you may appreciate the following tips on how to secure the property you want.
With first time buyers struggling to get their foot on the property ladder and the housing market in general experiencing a stagnant lull during the economic downturn, demand for rental accommodation has risen significantly. In fact, according Countrywide Surveyors, the largest property services group in the UK, in the first quarter of 2011 the number of tenants requiring rental accommodation, had increased by 15% compared to the previous year.
With a greater demand for rental accommodation, houses available for rent are getting snapped up much quicker than several years ago, leaving many would-be tenants disappointed.
If you are looking to rent out a property, then you may find the following tips on how to optimise your chances of getting the property you want helpful.
In an ideal world, we’d all live five minutes from our children’s school or just a ten minute walk away from our place of work, but in reality that rarely happens. In order to increase your chances of securing an attractive rental contract, it is a good idea to be fairly flexible about the location that you would be prepared to live in.
The most sought-after locations are often the ones where properties available for rent are usually snapped up quickly and it is therefore a good idea to keep an open mind about where you would be prepared to live.
As desirable properties available for rent seem to get let out almost as soon as they come on the market, it is a good idea to be prepared to pounce as soon as they become available. In order to be aware of new rental accommodation arriving on the market, it is a good idea to sign up with as many local letting agencies and estate agents as possible, which will put you on their mailing list and inform you when a suitable property becomes vacant.
Have the paperwork prepared
Compared to buying a house, renting a property requires considerably less paperwork. Although having said this, the letting procedure is not entirely ‘paperwork free’. To help things move faster when you find a suitable property to rent, it is a good idea to have the necessary paperwork ready. This typically includes proof of income from your employer, or, if you are self-employed, the last two years of tax returns, and, in all cases, proof of identity.
Having this paperwork in order, may make the difference between you moving into the rental home that you want, or waving it goodbye to someone else.
Property letting expert Charlotte Higgins, wrote this blog on behalf of www.propertyportfoliosoftware.co.uk.