'Let Agreed' ?

canaldumidi

eddddy said:

Weirdre said:

Also, what is AST? 

So a tenant who says 'I guarantee to stay for 2 years' might be preferable to one who says 'I only guarantee to stay for 1 year'.


A landlord has to pay an agent a 'finders fee' every time they find a new tenant - it might be one month's rent. So the longer tenants stay, the fewer 'finder's fees' the landlord has to pay.

Plus there's usually a gap between tenants (a 'void') when no rent is received, and almost inevitably some time/cost involved in touching up the paintwork / filling the holes in the walls etc.

So yes, fewer change of tenants = fewer overheads and costs.

For more, have a browse here:

https://forums.moneysavingexpert.com/discussion/5180214/tenancies-in-eng-wales-guides-for-landlords-and-tenants/p1

saajan_12

Weirdre said:

eddddy said:

It means that whilst your son was thinking about it, somebody else has made an offer and the landlord has accepted it.

In some areas, I know that prospective tenants will offer over the asking rent, or maybe say they'll sign a 2 year AST - to try to persuade the landlord to accept their offer. (I hear some landlords say they get 10 offers on the first day a flat is available for viewing.)

I've heard of people viewing a flat writing their offer email on their phone in advance, and the moment they see the flat, if they like it they hit 'send' - in order to get their offer in asap.

At the very least, your son should tell the agent he's interested and might make an offer - then maybe the agent will call him, before all the offers are put to the landlord.


But it may be different in areas with a 'cooler' rental market.

That's exactly how it seems to be !  I'm shocked how quick they are going and feeling like he is being 'gazumped' constantly ! - well is he even agreeing to take the property (even verbally?) and offering a certain rent? Gazumping would be if he had provisionally agreed, was in (exclusive) talks to get checks done and contract signed, then someone swooped in. Sounds like he's only getting to the viewing stage, at which point the LL/LA wouldn't even pretend to be talking to one tenant at a time. 
I do wonder tho that if you paid in advance but then didn't pass backgroud checks, would you lose the deposit/payments in advance? - sometimes and "I'll take it" and providing all the docs to get background checks started is enough for them to take it off the market (even temporarily if it takes son too long). If not, then it should just be a holding deposit (~1 weeks rent) with a clear agreement on what happens to that money in various scenarios eg if tenancy goes ahead, one party pulls out for no reason, if background checks failed and what constitutes a fail.. A security deposit shouldn't be taken until contract signing, and if it is then should be returned. 
Also, what is AST? ...sorry, the renting market is new to me.- Assured Shorthold Tenancy - basically the type of contract son and LL will have. 
Thank you for the great advice tho - I will pass that onto him and tell him to stop dithering ! :-) 

Would suggest doing some homework before each viewing, including the space and furniture included, what rent and bills for that size property should be, and whether that's affordable, location, etc.. as a result, is it a provisional yes or no. Also keep documents ready eg bank statements, reference details, proof of id, etc. Then the viewing is just confirming whether those things are the case and nothing's falling to pieces as you go through the property. If so, then he should know the decision and say whether or not he'll take it as he's walking out the door. He can ask immediately about next steps and provide the standard documents for references as soon as requested. 

ayupmeduck

Around here, property goes online and right away all bookings are full. We've been in our flat since 2015 and dread the day we start looking to move.

Slinky

Weirdre said:

Jaybee_16 said:

 A year ago I was looking for my first rental. I viewed one flat and in the time I walked back to my car and thought about whether it was what I wanted, the flat had been let.
Second time I viewed, thought about it for a couple of hours and it had been let to someone else.
Third time I viewed and told the letting agent there and then that I would take it.

Flats don't hang around in this part of the world.

Thanks Jaybee - he sounds exactly like you were and needs to do the same as you.  However, it does seem a bit harsh to have to decide there and then, as all properites have their plus and minus and it's a big decision to make on the spot.  Thank you for your input :-)

Can you imagine what it's like when you have the same almost on the spot decision about buying a house? It's like that in a lot of areas too.

RAS

Weirdre said:

freesha said:

Rentals go like hot cakes round here. Each flat might have 15 people wanting it - in the time your son has dithered, someone has snapped it up.

Seems to be the case here too !  Will definitely have to have a word with him about his 'dithering' !! :-)  Thank you

I'd also wonder about "Tiggerish." The sort of gush that sales and influencers use; "Super excited to serve you," a pack of panti-liners.

If your son is being measured and careful in his response, he'll lose out to the next viewer who is super excited by the tiny kitchen, cracked shower door and letting restrictions. To the hyped EA rep he's simply not interested.

Just don't get super excited about the cat-flap if no pets are allowed.