Bidding war for rental?

Sapindus

Viewed a flat today, it was obvious there were others interested but the flat itself was a bit dirty and run down (tenant had flitted), immediate area had a lot of rubbish though they said it was being removed (and CCTV installed to stop the problem), and parking would have been down to luck of the draw.  On the way home were rung by the estate agent saying words to the effect that she would put our application forward to the landlord, but it would help if we could offer a bit more money?

Is this normal?

user1977

Where there's more demand than supply, yes, and that seems quite commonplace these days.

Elisheba

Sadly the rental market is a nightmare for tenants right now. I've heard of prospective tenants having to bid higher, or even pay months and years of rent in advance. There are a few reasons for it - changes to the tax landlords need to pay, higher interest rate, and a surge in demand post pandemic, all mean there are less rental properties on the market. 

MikeJXE

Sapindus said:

Viewed a flat today, it was obvious there were others interested but the flat itself was a bit dirty and run down (tenant had flitted), immediate area had a lot of rubbish though they said it was being removed (and CCTV installed to stop the problem), and parking would have been down to luck of the draw.  On the way home were rung by the estate agent saying words to the effect that she would put our application forward to the landlord, but it would help if we could offer a bit more money?

Is this normal?

In some areas yes in my area not so much

Rents for 2 bed flat here have gone from £625 a year ago to £725 now but on the market for longer

My current 1 bed was £625 a year ago and I have not (yet) had a rent increase

I have been in a few and never found them to be dirty 

Albermarle

Sapindus said:

Viewed a flat today, it was obvious there were others interested but the flat itself was a bit dirty and run down (tenant had flitted), immediate area had a lot of rubbish though they said it was being removed (and CCTV installed to stop the problem), and parking would have been down to luck of the draw.  On the way home were rung by the estate agent saying words to the effect that she would put our application forward to the landlord, but it would help if we could offer a bit more money?

Is this normal?

In many areas yes. If you can drum up the cash, offering to pay a year in advance can help secure a property.

MultiFuelBurner

Rents have gone up massively as a general rule of thumb to two years ago.

We could quite easily ask £300-500 more per property than we were getting two years ago (rent two years ago averaged £600pcm and many could go up for ober £1000pcm now) and demand is far outstripping supply in our area. We just go word of mouth now as advertising just leads to over 50 applicants.

theartfullodger

Sadly part of capitalism, unless laws say otherwise.  Other countries handle this better (but not perfect).

Election coming up.

Best wishes to all

DullGreyGuy

Sapindus said:

Viewed a flat today, it was obvious there were others interested but the flat itself was a bit dirty and run down (tenant had flitted), immediate area had a lot of rubbish though they said it was being removed (and CCTV installed to stop the problem), and parking would have been down to luck of the draw.  On the way home were rung by the estate agent saying words to the effect that she would put our application forward to the landlord, but it would help if we could offer a bit more money?

Is this normal?

You've just started looking today or you've been looking longer? It's not too hard to get a feel for how hot your local market is.

In some areas where demand massively outweighs supply then its very normal that Landlords are receiving multiple offers and so have the luxury of getting to compare them and inevitably some will increase their offer after hearing they've been outbid (or may offer alternative enhancements like paying in advance). 

Nothing stops an agent trying to create the thinking a property is in demand, even auctioneers can take bids "off the wall", but if your market isn't hot then its more likely them doing their job and trying to maximise the monies for their client. 

Sapindus

I don't know why it surprised me so much, after all when you're buying a house you expect to make an offer or be outbid.  We've been aware that multiple people are applying for flats and it's up to the landlord to choose, but somehow I thought that would be based on who they thought would be the best tenant.  And this flat was right at the top of our affordability bracket and the estate agent would have known that, so pointless to encourage us to offer more.  I can foresee maybe we'll start to see places offered on Rightmove saying "offers above £xxx".

Luckily we've got options to look a bit further afield where the competition doesn't seem to be so fierce.

Ksw3

Been happening for 5 years plus in my area. I was absolutely outraged when we were asked to put in a sealed bid for a rental. 

Albermarle

Sapindus said:

I don't know why it surprised me so much, after all when you're buying a house you expect to make an offer or be outbid.  We've been aware that multiple people are applying for flats and it's up to the landlord to choose, but somehow I thought that would be based on who they thought would be the best tenant.  And this flat was right at the top of our affordability bracket and the estate agent would have known that, so pointless to encourage us to offer more.  I can foresee maybe we'll start to see places offered on Rightmove saying "offers above £xxx".

Luckily we've got options to look a bit further afield where the competition doesn't seem to be so fierce.

Do not assume that if you do not offer anymore, that you will not get the property.( although you might not of course) 
The estate agent might be just trying it on.

but somehow I thought that would be based on who they thought would be the best tenant. 
The decision will be partly based on this, and partly on price.

It maybe is the case that they like you and want you to be the tenant, but are just trying to squeeze a bit more money out of you. Just tell them you can not afford anymore and see what happens.