I’ve been using OpenRent for a few years and have always successfully let my properties within a month in the past, with genuine tenant enquiries received as soon as listings go live. However, this time, 10 days after listing my 3-bed property in Zone 2 , London , where there’s a scarcity of 3-bed house, I’ve only received 5–6 enquiries—5 from “rent to rent” operators rather than actual tenants. I used OpenRent’s valuation tool, which suggested £3,240, and even reduced my original listing price from £3,200 to £3,100, but still haven’t attracted serious interest, again only a couple of enquiries from people providing these serviced accommodation as part of rent to rent scheme. Estate agents have contacted me saying they have tenants who can rent and value our 3-bed at £3250, said there’s a high demand but not sure if it’s just their marketing ploy. I would rather rent out directly and facilitate viewings, avoid the 8% plus vat fees, if possible.
I’ve seen forum posts about filtering issues in the past, and noticed a Captcha error on Zoopla when i tried to send a message which may be preventing enquiries coming through. Is there anyone else who’s having same issue with low interest on genuine tenant enquiries?
I see, i have not had enquiries or viewings after 2 weeks even if i reduced the price. I’ll have to wait a bit more as i have to probably resort into using estate agent if there’s still nothing. In the past, this property receive offers in less than 2 weeks due to scarcity of properties in the area.
I dont hardly get any tenants from Open rent - mine are all from SpareRoom so i have to get them on there then do contract on OpenRent but just had a guarantor who lied to me and tenant failed - I proved my case and they still paid the holding deposit back to the tenant. Abysmal service.
Hello. Surprised you didn’t get any advice from the regulars on this site. Are you only advertising on OpenRent or have you also purchased the option to advertise to portals such as RightMove, Zoopla etc? I’ve never had a problem in the past letting to people i’ve found just on OpenRent but if you are struggling, then you should expand advertising. Good luck
I have a number of views - There are many people worried about money at the moment and many of them will be those that can pay 3k + so they will stay in their current property which may well be lower rent. A 3 bed London (non HMO) is likely to attract a family and they may be super cautious atm. If it is an HMO try to get say that sharers are welcome and if poss drop below the £1000 each mark.
I just had the same issue. My 1 bed London property was empty for four months whereas in the past it was extremely popular every time I listed it. First time I have encountered these rent to rent messages on OR. I thought they were supposed to be blocked. I let Hello Neighbour try finding a tenant for me. They just wanted me to reduce the rent to generate more interest. They said they had someone but didn’t even check their availability. Turns out they were locked in another contract until September. Wasn’t impressed with them. Definitely a funny market atm. In the end I rented to someone using the council PRS incentive. Hope you find someone soon. Andy
Can’t agree more. On one hand, we heard how demands are high in the private rental market due to less supply; on the other hand, we experience low-quality enquiries and struggle to find genuine and trustworthy tenants. What’s wrong with this market?
How much are you charging rent, compared to the past?
Is the reality, that prices have gone up so much, they are simply not affordable in London anymore, and therefore there is demand, but not at that price?