20 May

Tenants have to be quick on their feet in today's rental market

Tenants have to be quick on their feet in today's rental market

Experts have warned that the UK lettings market is moving so quickly that potential tenants will have only minutes to secure a property, or risk being gazumped.

Renters who arrive at a viewing without their deposit prepared could have their favoured property whisked from under their feet within minutes of making an offer, aboutproperty.co.uk warns.

It spoke to Katy Waite, local director of the County Homesearch Company (CHC) in Surrey, who said her firm had been "inundated" with requests for rental homes.

"Landlords have people queuing up to rent their properties, ready to pay full deposits on the spot, and the full rental price without question … If a client does not move quickly they face losing out," she concluded.

Demand for rental properties is continuing to rise despite rising prices. Earlier today, the BBC reported Capital Economics as saying it expects rents to rise by between ten and 11 per cent over the next two years.

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