Rental news roundup
30% of UK tenants choose to rent rather than buy according to the latest data from online lettings agent, Upad whose survey shows that nearly half of all UK tenants lose more than 30% of their salaries to rent and that 47% of tenants start looking for their next new home two months or more before they have to move (and expect to see on average 16 properties during their search).
Rise of the retired lodger
There has been a significant rise in the number of retired flatsharers over the last year, accroding to easyroommate.co.uk, who say that the number of retirees looking for short-term flat-share accommodation is rising. Over the last 18 months their figures show the number of retired enters has increased by over a third while the average desired rental period specified by retirees hoping to flatshare has fallen from over six months to just over four months. They suggest this drop in the average length of stay combined with the rise in the number of retired renters suggests more retirees are using flatsharing as a cost-effective stop-gap during the downsizing process.
How to find a good letting agent
The UK Association of Letting Agents (UKALA) has compiled a list of the top things a tenant should look for when searching for the ideal letting agent.
1. Look for a reputable agent
2. Check the area the agency cover
3. Check the agency’s specialism
4. Look at the agent’s fees
5. Ask for out-of-hours call out details
6. Check that the agent protects deposits in a tenancy deposit protection scheme
7. Ask about regular maintenance and safety checks.
8. Check that the staff are knowledgeable
Inspect regularly or risk catastrophe, landlords warned
Landlords are risking tens of thousands of pounds of damage to their properties if they fail to inspect them on a regular basis , says Ajay Jagota of KIS Lettings who argues that recent reports of rental properties suffering fire/flood damage without their owners realising and tenants running cannabis farms or illegally sub-letting properties might have been avoided if their landlords had taken the time to visit more often. “As a landlord it can be easy to assume that no news is good news where tenancies are concerned,” he says, “but absentee landlords all too often only have themselves to blame when things go seriously, legally and expensively wrong. Caught early, a dripping radiator is something you can fix in five minutes. Ignore it and it and it becomes significant water damage, rotten floorboards and a healthy and safety nightmare.”
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