What is happening in the rental market?

Ksw3

Rentals in my area have gone to closed bids for the last 5 years or so. When we moved out of our 1 bed rental, the rent increasef 35% and was let in a week. 

ProDave

oldernonethewiser said:

Supple and demand, lots of potential renters and too few properties available.

Sad really.

...... of tightening regulations and burdens on landlords, harsh treatment by hmrc meaning landlords earn less and have more trouble, so a lot chose to quit so fewer proerties.

Just make sure you direct your anger at the people that caused this, and it is NOT landlords.

LightFlare

Too many people chasing too few properties 

Many causes - but for once I don’t see the situation changing if/when the governing party does

jimbog

The future seem now to be heading to house shares rather than renting a separate flat or house

RHemmings

This doesn't apply to me, but what strategies can potential renters apply to try and find a property at the most reasonable price? Clearly location (e.g. further out of town), and type of property (flat instead of terraced house, terraced house instead of semi or detached) are the basics. But, with what I'm seeing, that isn't likely to be enough. 

I suspect I was quite lucky getting this house I'm in now as easily as I did just under two years ago. 

For many of the contributory causes listed in this thread, I was familiar with them already. However, I was just a bit shocked seeing the scale of the problem. 

jimbog said:

The future seem now to be heading to house shares rather than renting a separate flat or house

Which is comparatively moneysaving, I suppose. I wouldn't want to raise a family in a shared house. 

MikeJXE

This has to be a bargain 

Studio flat 3 miles from me £440 month inc water 

https://www.rightmove.co.uk/properties/143248331#/?channel=RES_LET

oldernonethewiser

Alderbank said:

oldernonethewiser said:

Supple and demand, lots of potential renters and too few properties available.

Rental properties now go so fast that you have to be agile as well as supple!

My tipyng erors get wurs as I get elder.

Apologies for my lack of proof reading.

oldernonethewiser

RHemmings said:

This doesn't apply to me, but what strategies can potential renters apply to try and find a property at the most reasonable price? Clearly location (e.g. further out of town), and type of property (flat instead of terraced house, terraced house instead of semi or detached) are the basics. But, with what I'm seeing, that isn't likely to be enough. 

I suspect I was quite lucky getting this house I'm in now as easily as I did just under two years ago. 

For many of the contributory causes listed in this thread, I was familiar with them already. However, I was just a bit shocked seeing the scale of the problem. 

jimbog said:

The future seem now to be heading to house shares rather than renting a separate flat or house

Which is comparatively moneysaving, I suppose. I wouldn't want to raise a family in a shared house. 

I know two people who, in the last six months, have been able to get properties through a friend of a friend of a friend.

Speaking to family, friends and colleagues to ask if they know of anything coming onto the market can help.

Everyone is looking for an advantage and if you wait for things to be listed you may well have missed that opportunity.

RHemmings

oldernonethewiser said:

RHemmings said:

This doesn't apply to me, but what strategies can potential renters apply to try and find a property at the most reasonable price? Clearly location (e.g. further out of town), and type of property (flat instead of terraced house, terraced house instead of semi or detached) are the basics. But, with what I'm seeing, that isn't likely to be enough. 

I suspect I was quite lucky getting this house I'm in now as easily as I did just under two years ago. 

For many of the contributory causes listed in this thread, I was familiar with them already. However, I was just a bit shocked seeing the scale of the problem. 

jimbog said:

The future seem now to be heading to house shares rather than renting a separate flat or house

Which is comparatively moneysaving, I suppose. I wouldn't want to raise a family in a shared house. 

I know two people who, in the last six months, have been able to get properties through a friend of a friend of a friend.

Speaking to family, friends and colleagues to ask if they know of anything coming onto the market can help.

Everyone is looking for an advantage and if you wait for things to be listed you may well have missed that opportunity.

Your advice certainly sounds good to me.  

In Leicester it's very much a university city given the sizes of the universities compared to the size of the city. I see lots of houses advertised as student lets, where the per month rent is low based on a certain number of people sharing. I'm not saying this is a good option even if possible, but I wonder what would happen if non-students got together and applied for one of these properties during the summer when student lets are more likely to be empty. 

Emmia

RHemmings said:

oldernonethewiser said:

RHemmings said:

This doesn't apply to me, but what strategies can potential renters apply to try and find a property at the most reasonable price? Clearly location (e.g. further out of town), and type of property (flat instead of terraced house, terraced house instead of semi or detached) are the basics. But, with what I'm seeing, that isn't likely to be enough. 

I suspect I was quite lucky getting this house I'm in now as easily as I did just under two years ago. 

For many of the contributory causes listed in this thread, I was familiar with them already. However, I was just a bit shocked seeing the scale of the problem. 

jimbog said:

The future seem now to be heading to house shares rather than renting a separate flat or house

Which is comparatively moneysaving, I suppose. I wouldn't want to raise a family in a shared house. 

I know two people who, in the last six months, have been able to get properties through a friend of a friend of a friend.

Speaking to family, friends and colleagues to ask if they know of anything coming onto the market can help.

Everyone is looking for an advantage and if you wait for things to be listed you may well have missed that opportunity.

Your advice certainly sounds good to me.  

In Leicester it's very much a university city given the sizes of the universities compared to the size of the city. I see lots of houses advertised as student lets, where the per month rent is low based on a certain number of people sharing. I'm not saying this is a good option even if possible, but I wonder what would happen if non-students got together and applied for one of these properties during the summer when student lets are more likely to be empty. 

But student lets for September 25 will be getting let out now / well before September 25. Realistically you'd need to potentially commit to a place a year before it becomes available.

Over 20 years ago my 2nd year house share was arranged in January/February for a let that began for me in September... I think the girls I shared with and I started looking at places in November/December, having only met one another in September/October.