At a time when rental stock is low but tenant demand is high, lettings experts Belvoir have put together this handy guide for tenants. Looking for an ideal home but always seem to miss out to other tenants? Be quick, be savvy and be smart if you want to secure a popular property at the perfect price…
Be proactive…
The best rentals get snapped up fast so being proactive in your search is vital. Start by registering your interest with your local lettings agent who will be able to show you a portfolio of properties currently available.
“Register your details with the agents in your location and give the agent all of your details and the exact details of the property you require,” advises Dominic Swinfield of Belvoir Lettings. “Be very specific on location and budget. And make sure you come across as keen to view properties – a keen tenant is always a far more attractive proposal to an agent.”
Proprietor of Belvoir Southend-on-Sea Wayne Mearns agrees and adds, “The best properties go very quickly. In fact, sometimes so quickly that ourselves, as agents, don’t get chance to call back the applicants that may have been interested!
“Tenants should register with a local agent that has a governing body, such as Safeagent. Such affiliations help to provide reassurance that the agent will not accept gazumping on popular properties and, once a holding fee is accepted, the property is reserved pending relevant checks.”
Searching the internet portals is also a good way of finding out when properties become available too.
“Use the internet to search for available properties to rent,” advises Zain Mahal, proprietor of Belvoir Stratford. “These will give you a good idea of the rental prices for that area and the current availability.”
Dominic Swinfield agrees. “There are a number of things that a tenant can do to help find and secure the best possible property in this very busy market and using web portals is one of them,” he says. “The web portals are a very up-to-date way for tenants to search for the latest properties in their area. I would strongly suggest that tenants register their details with all of the major web portals, including their contact telephone number and email address, so that the agents can easily reach them to talk about the latest stock coming on to the market.”
Be flexible…
What kind of property are you looking for? Do you really need that garage or second spare bedroom? Being flexible on the type of property you want will widen the selection of properties available to you.
“Be realistic in your requirements as most properties will only meet 70% or 80% of your needs,” says Zain Mahal.
Be flexible on the term of tenancy if you can too. Some landlords will specify that they want the tenancy agreement signed for a year while others will be looking for a six-month commitment.
And always be flexible with ‘move in’ dates if your circumstances allow.
“The more flexible a tenant can be with move in dates the better,” says Wayne Mearns. “Most landlords will not want an empty property, so the sooner tenants can move in the better.”
Be quick…
Once you have identified a property you like, it’s essential to get the ball rolling quickly.
“Always make yourself available for viewings as good properties are snapped up really quickly,” says Zain Mahal. “And when you do view a property that meets your needs and expectations, do not hesitate to make an offer immediately or the property will be secured by another tenant.”
Be prepared…
There’s no point fighting your way to the front of the queue if a lack of forward planning holds you up in signing the tenancy agreement in the final stages – there’s likely to be a line of potential tenants behind you who will be quite happy to take your place.
“Before looking for a new property it’s well worth checking you have the correct documents that will be needed for the agent’s checks,” says Wayne Mearns. “Photo ID and two proofs of address are the norm, but check with your agent as the types of documents accepted can sometimes differ.
“Also ensure your salary is acceptable for the rental price. This, again, can be assessed quickly by your agent. These things will save time and help you narrow down the ideal property.”
Always ensure that you’re financially ready too. “Make sure you can afford the deposit and any upfront costs that may be associated with moving into a rental property,” says Dominic Swinfield. “Ask the letting agent for upfront costs – a good agent will guide you through the minefield and explain the ins and outs to you before you commit.”
And, try and fast-track your references, chasing them if necessary.
“Give notice to your current landlord straight away if you are already renting and request your landlord give you or the agent references quickly since there will be more tenants chasing up the property as well,” says Zain Mahal. “By obtaining the references promptly you will be in an advantageous position to secure the property swiftly and quickly.”
Dominic Swinfield agrees and says, “Have letters from your employers showing your employment terms too, plus anything else that will put you to the top of the pecking order with the landlord.”
Finally, secure the property by signing all relevant documents and returning to the agent or landlord, along with the holding fee, as soon as possible.
Belvoir Lettings now have more than 140 offices nationwide. To find your nearest Belvoir office, visit their website at www.belvoir.co.uk
At-a-glance checklist
– Set yourself a realistic budget
– Be available for viewings
– Register with local agents
– Be flexible on your needs
– Search the web portals
– Have your deposit ready
– Chase your references
– Be prepared to move quickly
– Appear keen
– Make a swift offer
– Be flexible on the length of tenancy and move in dates
– Have your ID ready
– Sign all documentation and return promptly
