Is now a good time to start renting?

alexbryan

I'm looking to rent a place. I notice, looking at websites like Right Move, that a lot of Estate Agents are offering deals if you move in before Chistmas, e.g. half price fees if you move in before the 23rd of December. What's the reason for this? Is it just a slow period, or is there another reason they want to fill flats before January? My only worry, to use a poor analogy, is that they're trying to clear out the old stock, and if I wait until Jan I'll get a better model for cheaper...

adg1

December is the slowest month of the year for lettings. Would you, as a tenant, like to move house before xmas if you could help it? I wouldn't. Its the time of year that the leasst number of people register to rent, but the time when landlords have xmas in the back of their minds and may be willing to negotiate to snare those tenants that are looking.

Not many landlords bring their property to market now, knowing that most EAs close from about the 23rd Dec to the 4th Jan - why market in a time when no one will view it?

EAs are offering deals to get people to move house as they aren't doing many deals and want to take home a paycheck at the end of the month.

planning303

Adg1 is totally correct that this is a poor time to let from a LL point of view, but if you can get a good deal as a result of the time of the year then all the better from a tenents point of view!

I suppose the main question is have you found someone you actually want to live.
If you've found a house that you like then i would go for it, but if you are comprimising on the house just so you can save 100 in fees then i wouldn't.
You'll be stuck for at least 6 months and then have to pay a whole new set of fees to leave in june!

adg1

alexbryan wrote: »

and if I wait until Jan I'll get a better model for cheaper...

You and the thousands of other people who don't fancy moving before xmas! There isn't a queue of landlord waiting to start marketing a property come Jan 4th. It takes a while to build back up after the lull.

High Demand + Low Supply = Inflated Prices

Also think about notice periods - if a LL starts to market a property on Jan 4th, then he probably has tenants serving notice of 1 or 2 months. That makes the availability Feb/March, not January.