Rental Market Outlook for 2012: Tenants need to jump on the ladder quickly

publication date: Oct 30, 2012
 | 
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
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Tenants need to jump on the ladder quickly


Rents typically rise during September and then take a downward turn from October to December as people focus on the run up to Xmas rather than concerning themselves with moving home.

As such, for those looking to rent over the next few months, it's a good idea to rent now rather than wait until next year. As the rental stock isn't growing as fast as the demand for properties, it is vital that those who want to rent a property try to do so sooner rather than later.

Although rents may not be increasing substantially at the moment, as soon as wages start to rise and the economy starts to recover, rental prices are likely to move up quite quickly. As such, for those that want or are likely to rent in the near future, the sooner you are able to do so, the sooner you will be able to rent a property at a reasonable price and hopefully keep the rents as low as possible.

However, if you are looking to rent for the long term, it is worth making sure you rent from a landlord who is also committed to rent to tenants long term.

Top five questions to ask your landlord (or letting agent):-  
  1. How long is the property likely to be available for rent?
  2. Can you secure an extended contract?
  3. What are the costs (if any) of renewing your contract?
  4. What maintenance has the property received over the last two years?
  5. Has the property secured a gas and electrical safety certificate?
Making sure you rent from a landlord who is a member of one of the Landlord associations, such as the Residential Landlords Association or if you rent via a letting agent, make sure they are members of trade bodies such as ARLA or NALS.

If you want help working out whether to buy now or carry on renting, contact us at enquiries@designsonproperty.co.uk or via our Forum.

For more help, sign up to Property Checklists for free property checklists to help you rent a legal property. Alternatively, feel free to ask a question via our Forum or purchase our Tenant Service, which includes a comprehensive A4 ‘how to' guide, containing Dos and Don'ts, Factsheets, Checklists, Handy Tips and Forms, PLUS access to Kate and her team, by phone and email, for any queries you might have during your first property project.

NEED HELP FROM THE DESIGNS ON PROPERTY EXPERTS?

Email enquiries@designsonproperty.co.uk for a one of our FREE Property Checklists.

Do you have a property question? GET AN INDEPENDENT ANSWER! ASK US via our PROPERTY FORUMemail enquiries@designsonproperty.co.uk or call 0845 838 1763.


Get a helping hand with our Tenants Service for just £14.99!

Property expert, Kate Faulkner, has joined forces with B&Q and other industry experts to offer a unique service, where you purchase a ‘property project pack’ that gives you:-
  • An A4 ‘how to’ guide (approx 80 pages), containing Dos and Don’ts, Factsheets, Checklists, Handy Tips and Forms
  • Access to Kate and her team, by phone and email, for any queries you might have during your project.

See the full list of Kate Faulkner's unique Property Services here!


 

Need help with a property problem? Have a question? Why not call Designs on Property on 01652 641 722 or Contact Us via email.
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