Out of 82 inquiries only 1 was suitable and wanted the flat. We signed TA and got security deposit. TT can still pull out before the move-in day. Hopefully, they won’t.
I don’t know why in supposedly LL market it’s so hard. Probably, because our flat is a higer end two-bedroom one, and is not in a popular budget range.
Majority were very young sharers who are likely to party. And in this family-oriented block it would be a disaster. And you can’t discriminate against the age.
I wonder if next time we should go to the agent. I see similar properties put with the agents rent faster and are priced higher, too. Is it because the agencies have their contacts, maybe?
Anyway, it’s just a rant. It has been a very frustrating experience. We had also some high earners coming and wasting our time because the 56sq.m flat was not big enough (floor plan given, both bedrooms double) and because there’s only one allocated parking space (as per listing).
We are exhausted.
I also recently rented out a 2-bed and of 87 enquiries only 1 was suitable. I think partly because a lot of people apply for multiple so their energy is diluted and their responses not very specific. If you think about it, if there are 80 enquiries but also 80 properties available then the market will quickly clear. If there are 80 enquiries but only 1 property available then that’s a very different dynamic. We tend to assume there are 82 people chasing your property but in fact each person may be chasing 20 different properties. I would not use a traditional agent though as I live near my property.
Thanks for that. You don’t think that agent has connections and will rent the place easier? Also, is it possible that more and more TT go straight to the agents now as it’s free for them?
Would appreciate your thoughts on that.
As a tenant I still prefer Openrent, just wish there would be more choice. I try both at the moment as actively looked and most estate agents just never come back to me, never call back, never know any answers to my questions in the unlikley event I get to talk to someone. You really have to chase them nowadays. So from my tenant perspective estate agents are a waste of money.
Agents don’t carry out such exhaustive checks and references as you would do yourself, that’s why they appear to rent quicker. We found that as long as someone had a job and passed the income test, they let it to them, whereas we might have seen other people as well and asked more/different questions.
I’d agree. We don’t trust agents as much as we trust ourselves. But the questions remains - why it’s so hard to rent with a supposed shortage of properties? We’d love to have a choice, but we had to go with the first suitable candidate.
I think in some ways it’s BECAUSE there is a shortage of properties. You will get all and sundry applying for your property whereas before they may not have done, because they would only apply for those that were a better fit for them. Now there is not so much choice, tenants are desperate and will bid on anything, hoping you won’t notice that they can’t afford it/ have unpaid rent from last property/have five dogs and three cats, etc.
Last time we put ours up for rent (about three years ago), I think we had about thirty applicants. Only three were anywhere near suitable. We shortlisted to two and luckily the ones we had the good gut feeling about were the only ones who replied to our final enquiry.
I wholeheartedly agree I think the shortage of properties is making tenants apply for anything regardless of suitability personally or financially.
out of 52 enquiries I have had so far I considered only four as possible and arranged a viewing.
One had a credit rating of 18 and failed to disclose he had an IVA.
One needed to be in walking distance to the Train station to get into London as he doesn’t drive but didn’t bother to check that mine is an hours walk away.
One despite knowing my property is advertised and pictured fully furnished declared they had an all their own furniture which they wanted to bring and then got arsey when told NO they wouldn’t be allowed to fix TV’s, shelves and pictures to the walls.
Seriously complete time wasters,
I wonder if EA get the same delusional applications ?
I think Open rent is better than an agent (by a mile!) but part of the problem. Is your advert goes live on open rent immediately and rightmove and zoopla up to 36 hours later.
I have found open rent to be more kwiksave and rightmove to be sainsbury with zoopla more like tesco in the middle.
48 hours is about enough to generate the viewings you need so a disproportionate amount will come through open rent
That said, my last flat had 18 bookings, 12 actually turned up and probably 4 I would have been happy to rent to so I can’t really complain
Funny enough, we didn’t have anybody suitable to even do the viewings till around a week mark. The same was with our other flat.
Yes, lots of enquiries and all of them are either unsuitable or poor quality. We probably will continue to rent our budget and middle range flats ourselves but will give this one to a small agent who seemed to be decent when we bought a flat through them. They never tried to manipulate us, were not pushy, were truthful about everything (to our knowledge). Now they do mainly rentals. We may try ourselves first, and, if no luck, will go with them.
That’s the plan for the next time.
I sympathise. I paused my advert after 24 hours because I had received far too many enquiries. I short-listed 10 and invited them to view. Just 2 of the 10 turned up!
I suspect that if you get over 100 inquiries you are too cheap.
But should you start high and reduce?
My experience with agents was bad.
Tick boxes checks, not much common sense and I still needed to check that right to rent, passport copies, certificates handed over etc.
Also agents go for lower rents an take the first two or three for viewings. They may also reject reasonable potential tt because the computer might say no.
apply filtering to your prescreen. It will help. Why do you say TT can still pull out before the move-in day - you have a signed agreement, neither of you can pull out without consequences.
TT not only can pull out but actually do. There’s one recent post on this forum to the same effect. And LL has to refund security deposit, too, because it’s not theirs to keep.
To clarify a tenancy can be signed in advance of a move-in date. From the date of signing, by both parties, there is a tenancy agreement. Off-course tenant or landlord can do anything they choose and accept the consequences.